RTX (NYSE:RTX) Shares Down 1.5% – Here’s What Happened

RTX Co. (NYSE:RTX)’s share price traded down 1.5% during trading on Tuesday . The stock traded as low as $123.53 and last traded at $124.07. 1,812,397 shares were traded during trading, a decline of 73% from the average session volume of 6,761,166 shares. The stock had previously closed at $125.90.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.50.

RTX Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $167.11 billion, a P/E ratio of 49.04, a PEG ratio of 2.24 and a beta of 0.82. The firm has a fifty day moving average price of $121.09 and a two-hundred day moving average price of $110.74.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 98.82%.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several institutional investors have recently bought and sold shares of the business. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the second quarter worth $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX during the 3rd quarter valued at $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

About RTX

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.