RTX (NYSE:RTX) Stock Price Down 0.3% - Should You Sell?

RTX Co. (NYSE:RTX - Get Free Report)'s stock price dropped 0.3% on Friday . The stock traded as low as $127.70 and last traded at $128.89. Approximately 5,208,962 shares changed hands during trading, a decline of 5% from the average daily volume of 5,478,735 shares. The stock had previously closed at $129.25.

Analyst Ratings Changes

Several analysts recently issued reports on RTX shares. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $165.27.

RTX Stock Down 9.6 %

The stock has a market cap of $152.17 billion, a P/E ratio of 32.11, a PEG ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock's fifty day simple moving average is $128.57 and its 200-day simple moving average is $123.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was 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 dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgecrest Wealth Partners LLC acquired a new stake in RTX during the 1st quarter worth about $222,000. First Bancorp Inc ME raised its stake in shares of RTX by 4.9% in the 1st quarter. First Bancorp Inc ME now owns 6,532 shares of the company's stock valued at $865,000 after acquiring an additional 306 shares in the last quarter. 1858 Wealth Management LLC lifted its holdings in RTX by 8.5% in the 1st quarter. 1858 Wealth Management LLC now owns 8,069 shares of the company's stock worth $1,069,000 after purchasing an additional 631 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in RTX during the first quarter worth approximately $5,124,000. Finally, Tandem Capital Management Corp ADV acquired a new position in RTX during the first quarter valued at approximately $201,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

About RTX

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.