RTX (NYSE:RTX) Stock Price Down 3.2% - Should You Sell?

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RTX shares. Royal Bank Of Canada dropped their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. 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. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Four investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

RTX Stock 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 firm has a market capitalization of $193.23 billion, a PE ratio of 42.42, a P/E/G ratio of 2.56 and a beta of 0.63. The company's fifty day simple moving average is $134.55 and its 200 day simple moving average is $128.11.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, equities research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.88%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on 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 transaction, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was 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.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hamilton Capital LLC increased its holdings in shares of RTX by 3.6% in the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after buying an additional 74 shares during the last quarter. ICW Investment Advisors LLC grew its position in RTX by 0.6% in the first quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock worth $1,834,000 after acquiring an additional 77 shares in the last quarter. Apexium Financial LP increased its stake in RTX by 2.2% in the first quarter. Apexium Financial LP now owns 3,629 shares of the company's stock valued at $481,000 after acquiring an additional 78 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after purchasing an additional 79 shares in the last quarter. Finally, Fusion Capital LLC lifted its stake in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.