RTX (NYSE:RTX) Trading Down 1.4% - Here's What Happened

Key Points

• RTX shares fell 1.4% on Thursday, trading as low as $175.30 even though volume was only slightly below average.
• The company’s recent news flow was mostly positive, including a record SharpSight radar order, a SeaRAM defense contract for Australian frigates, and a $26.5 million Collins Aerospace expansion in Florida.
• RTX beat quarterly expectations with $1.78 EPS on $22.08 billion in revenue and also raised its quarterly dividend to $0.73 per share, while analysts still maintain a Moderate Buy consensus and $210.75 price target.

RTX Corporation (NYSE:RTX - Get Free Report) shares were down 1.4% during trading on Thursday . The company traded as low as $175.30 and last traded at $175.5750. Approximately 5,817,456 shares changed hands during trading, a decline of 2% from the average daily volume of 5,948,765 shares. The stock had previously closed at $178.11.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon, an RTX business, received the largest order to date for its SharpSight radar system from Blue Raven, signaling continued demand for its surveillance technology. RTX Corporation (RTX) Receives Order For SharpSight radars from Blue Raven
• Positive Sentiment: RTX won a SeaRAM ship self-defense contract for Australian frigates, expanding its international naval defense footprint and adding to its order pipeline. RTX Wins SeaRAM Ship Self-Defense Contract For Australian Frigates
• Positive Sentiment: Collins Aerospace announced a $26.5 million expansion in Florida, which suggests ongoing investment in RTX’s aerospace and defense manufacturing capacity. RTX’s Collins Aerospace Invests $26.5M In Florida Expansion
• Neutral Sentiment: RTX is drawing heavier-than-usual investor attention on Zacks, but the note does not include a new catalyst strong enough on its own to change the fundamental outlook. Investors Heavily Search RTX Corporation (RTX): Here is What You Need to Know
• Neutral Sentiment: Several articles mentioning “RTX” actually refer to Nvidia graphics cards and gaming products, so they are not directly relevant to RTX Corporation’s business or stock. MSI Launches Limited GeForce RTX 5080 Mandalorian and Grogu Edition
• Negative Sentiment: No major company-specific negative headline was reported, but the stock’s decline suggests investors may be taking profits or focusing on broader market weakness despite the positive contract news.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Susquehanna restated a "positive" rating and set a $230.00 target price on shares of RTX in a research report on Thursday, January 15th. Morgan Stanley dropped their price target on RTX from $235.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. UBS Group cut their price target on RTX from $209.00 to $199.00 and set a "neutral" rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of RTX in a research note on Friday, April 10th. Finally, Wall Street Zen cut shares of RTX from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.75.

RTX Trading Down 1.4%

The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48. The firm's 50-day moving average is $193.17 and its 200-day moving average is $188.89. The firm has a market cap of $236.44 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.54 and a beta of 0.31.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.26. The firm had revenue of $22.08 billion during the quarter, compared to analysts' expectations of $21.38 billion. RTX had a net margin of 8.03% and a return on equity of 13.50%. The business's revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.47 earnings per share. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. As a group, sell-side analysts anticipate that RTX Corporation will post 6.91 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 22nd. This is a positive change from RTX's previous quarterly dividend of $0.68. RTX's dividend payout ratio (DPR) is currently 54.78%.

Insider Activity

In other RTX news, VP Kevin G. Dasilva sold 8,136 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $201.30, for a total value of $1,637,776.80. Following the completion of the sale, the vice president owned 27,102 shares in the company, valued at approximately $5,455,632.60. This trade represents a 23.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 12,713 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $202.83, for a total value of $2,578,577.79. Following the sale, the executive vice president directly owned 16,749 shares of the company's stock, valued at $3,397,199.67. The trade was a 43.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 71,728 shares of company stock valued at $14,661,279. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently bought and sold shares of the company. Navalign LLC purchased a new stake in RTX during the fourth quarter valued at about $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of RTX during the fourth quarter worth $26,000. BNP Paribas purchased a new stake in RTX during the 3rd quarter worth about $25,000. Evergreen Advisors LLC bought a new stake in shares of RTX during the first quarter valued at about $31,000. Finally, Core Wealth Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at approximately $31,000. 86.50% of the stock is owned by institutional investors.

About RTX

RTX NYSE: RTX is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX's operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.