RTX (NYSE:RTX) Shares Down 1.9% - Should You Sell?

RTX Corporation (NYSE:RTX - Get Free Report) shares were down 1.9% on Tuesday . The company traded as low as $143.61 and last traded at $143.20. Approximately 908,830 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 5,325,011 shares. The stock had previously closed at $145.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RTX shares. Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Down 0.8%

The company has a market capitalization of $193.35 billion, a PE ratio of 42.44, a PEG ratio of 2.63 and a beta of 0.64. The company's 50 day moving average is $137.66 and its two-hundred day moving average is $129.67. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RTX. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at $26,000. 10Elms LLP purchased a new stake in RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new position in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new position in RTX during the fourth quarter worth $34,000. Hedge funds and other 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.

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