RTX (NYSE:RTX) Stock Price Down 2.5% - What's Next?

RTX Co. (NYSE:RTX - Get Free Report)'s share price dropped 2.5% on Monday . The company traded as low as $121.38 and last traded at $122.68. Approximately 7,714,193 shares changed hands during trading, an increase of 64% from the average daily volume of 4,715,731 shares. The stock had previously closed at $125.84.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research reports. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Citigroup upgraded shares of RTX from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $163.07.

RTX Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $166.85 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.09 and a beta of 0.82. The business's fifty day moving average price is $121.38 and its 200-day moving average price is $120.83.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company's stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Hedge funds have recently modified their holdings of the company. CX Institutional increased its position in shares of RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after acquiring an additional 11,706 shares during the period. LRI Investments LLC increased its position in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company's stock valued at $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management purchased a new position in shares of RTX in the third quarter valued at about $1,307,000. Czech National Bank increased its position in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company's stock valued at $33,396,000 after acquiring an additional 17,608 shares during the period. Finally, Archer Investment Corp increased its position in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after acquiring an additional 4,151 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.