RTX (NYSE:RTX) Trading Down 1.9% - Time to Sell?

RTX Co. (NYSE:RTX - Get Free Report)'s stock price dropped 1.9% during mid-day trading on Monday . The company traded as low as $126.81 and last traded at $126.46. Approximately 1,088,335 shares changed hands during trading, a decline of 79% from the average daily volume of 5,132,991 shares. The stock had previously closed at $128.89.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com raised RTX from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada dropped their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, RTX has an average rating of "Buy" and an average price target of $161.38.

RTX Stock Up 2.8 %

The firm has a market cap of $167.46 billion, a P/E ratio of 35.33, a PEG ratio of 2.11 and a beta of 0.58. The firm's 50-day moving average price is $128.31 and its 200 day moving average price is $123.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 73.90%.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new position in shares of RTX in the first quarter worth $26,000. 10Elms LLP bought a new position in RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Finally, Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter worth approximately $34,000. 86.50% of the stock is owned by institutional investors.

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.