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

RTX Corporation (NYSE:RTX - Get Free Report)'s share price dropped 1.8% during mid-day trading on Tuesday . The stock traded as low as $143.56 and last traded at $148.77. Approximately 4,574,977 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 5,278,565 shares. The stock had previously closed at $151.56.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research reports. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Citigroup increased their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Morgan Stanley increased their price target on shares of RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.28.

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 company's 50 day moving average price is $141.35 and its 200 day moving average price is $131.70. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 2.82 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.82%. RTX's dividend payout ratio is presently 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bay Capital Advisors LLC acquired a new stake in shares of RTX in the first quarter worth $224,000. Dynamic Advisor Solutions LLC grew its stake in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the last quarter. Deutsche Bank AG grew its stake in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after acquiring an additional 936,953 shares during the last quarter. LBP AM SA grew its stake in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after acquiring an additional 41,990 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in RTX by 1.4% in the first quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock worth $51,741,000 after purchasing an additional 5,356 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.

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