RTX (NYSE:RTX) Stock Price Down 0.9% - Here's Why

RTX Co. (NYSE:RTX - Get Free Report)'s share price dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $123.19 and last traded at $124.23. Approximately 698,993 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,703,208 shares. The stock had previously closed at $125.41.

Wall Street Analyst Weigh In

RTX has been the topic of several recent research reports. Susquehanna lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. 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 stock. According to data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average target price of $163.07.

RTX Stock Down 1.5 %

The business's 50 day simple moving average is $121.49 and its 200-day simple moving average is $120.98. The company has a market cap of $164.16 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX's payout ratio is presently 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were 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 owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RTX. Dakota Wealth Management increased its stake in RTX by 1.3% in the third quarter. Dakota Wealth Management now owns 32,410 shares of the company's stock valued at $3,927,000 after acquiring an additional 430 shares during the period. West Michigan Advisors LLC bought a new stake in RTX in the third quarter valued at about $211,000. Silver Oak Securities Incorporated increased its stake in RTX by 6.7% in the third quarter. Silver Oak Securities Incorporated now owns 12,209 shares of the company's stock valued at $1,470,000 after acquiring an additional 764 shares during the period. Mediolanum International Funds Ltd increased its stake in RTX by 6.6% in the third quarter. Mediolanum International Funds Ltd now owns 29,400 shares of the company's stock valued at $3,534,000 after acquiring an additional 1,831 shares during the period. Finally, Shayne & Jacobs LLC increased its stake in RTX by 0.9% in the third quarter. Shayne & Jacobs LLC now owns 13,812 shares of the company's stock valued at $1,673,000 after acquiring an additional 121 shares during the period. Institutional investors own 86.50% of the company's stock.

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.