RTX (NYSE:RTX) Trading Down 0.2% – Time to Sell?

RTX Co. (NYSE:RTX) dropped 0.2% during trading on Thursday . The company traded as low as $133.90 and last traded at $135.12. Approximately 885,463 shares were traded during trading, a decline of 84% from the average daily volume of 5,366,973 shares. The stock had previously closed at $135.32.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent research reports. Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Trading Down 1.0 %

The firm has a market cap of $178.93 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $126.43 and a 200 day moving average price of $122.39.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of RTX during the 4th quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after buying an additional 3,164,844 shares during the last quarter. Amundi boosted its stake in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in shares of RTX during the 4th quarter worth about $216,340,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.