RTX (NYSE:RTX) Stock Price Down 0.5% on Analyst Downgrade

Shares of RTX Co. (NYSE:RTX - Get Free Report) were down 0.5% on Thursday after Citigroup lowered their price target on the stock from $153.00 to $148.00. Citigroup currently has a buy rating on the stock. RTX traded as low as $126.70 and last traded at $127.77. Approximately 1,212,485 shares traded hands during trading, a decline of 78% from the average daily volume of 5,504,766 shares. The stock had previously closed at $128.43.

A number of other equities research analysts have also weighed in on RTX. UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Royal Bank of Canada raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of RTX from $156.00 to $136.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.73.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its stake in RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Franklin Resources Inc. grew its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RTX in the 4th quarter valued at $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Up 0.7 %

The firm has a market capitalization of $172.39 billion, a PE ratio of 36.37, a PEG ratio of 2.11 and a beta of 0.58. The company's 50-day moving average price is $128.56 and its 200-day moving average price is $123.62. 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 posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. RTX's dividend payout ratio (DPR) is presently 70.99%.

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.