RTX (NYSE:RTX) Shares Down 3.2% - Here's Why

Shares of RTX Corporation (NYSE:RTX - Get Free Report) were down 3.2% on Tuesday . The stock traded as low as $141.53 and last traded at $141.10. Approximately 2,335,631 shares traded hands during trading, a decline of 57% from the average daily volume of 5,407,160 shares. The stock had previously closed at $145.81.

Analysts Set New Price Targets

Several research analysts recently weighed in on RTX shares. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada reduced their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a 50 day moving average price of $133.77 and a 200-day moving average price of $127.74. The stock has a market capitalization of $189.17 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.92%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling

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

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Pension Service raised its holdings in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after buying an additional 2,686 shares during the period. Deutsche Bank AG raised its holdings in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of RTX in the 4th quarter valued at $3,356,000. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock valued at $3,046,000 after buying an additional 7,987 shares during the period. 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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