RTX (NYSE:RTX) Stock Price Down 2.5% – Here’s Why

RTX Co. (NYSE:RTX)’s stock price dropped 2.5% on Friday . The company traded as low as $122.62 and last traded at $122.72. Approximately 2,482,570 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 4,617,400 shares. The stock had previously closed at $125.84.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley upped their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, UBS Group boosted their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Down 2.5 %

The firm has a 50 day moving average price of $120.79 and a 200-day moving average price of $120.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $163.42 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several large investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. increased its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after buying an additional 80 shares in the last quarter. McDonough Capital Management Inc grew its holdings in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after buying an additional 80 shares in the last quarter. New England Professional Planning Group Inc. grew its holdings in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.