RTX (NYSE:RTX) Shares Down 1.8% - Here's What Happened

Shares of RTX Corporation (NYSE:RTX - Get Free Report) traded down 1.8% during mid-day trading on Tuesday . The stock traded as low as $143.68 and last traded at $143.34. 779,084 shares were traded during trading, a decline of 85% from the average session volume of 5,350,228 shares. The stock had previously closed at $146.02.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. The Goldman Sachs Group upped their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Wells Fargo & Company raised their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. 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 note on Wednesday, April 23rd. Four 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. Based on data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average price target of $161.12.

RTX Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market cap of $194.78 billion, a PE ratio of 42.76, a P/E/G ratio of 2.61 and a beta of 0.64. The company's 50 day moving average is $136.83 and its 200-day moving average is $129.07.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $19.80 billion. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the 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 transaction, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $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 owned by company insiders.

Hedge Funds Weigh In On RTX

A number of large investors have recently bought and sold shares of RTX. Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 1,000,722 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the period. Norges Bank bought a new position in shares of RTX during the fourth quarter worth about $1,745,644,000. Finally, Northern Trust Corp increased its holdings in shares of RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after acquiring an additional 997,806 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.