RTX (NYSE:RTX) Shares Down 0.5% – Here’s Why

Shares of RTX Co. (NYSE:RTX) were down 0.5% on Friday . The company traded as low as $125.04 and last traded at $125.12. Approximately 650,349 shares traded hands during trading, a decline of 90% from the average daily volume of 6,778,067 shares. The stock had previously closed at $125.75.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $162.50.

RTX Stock Up 0.1 %

The stock has a 50-day moving average of $120.91 and a 200 day moving average of $110.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $167.41 billion, a P/E ratio of 49.38, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new position in RTX in the 2nd quarter worth about $30,837,000. Capital Advisors Ltd. LLC grew its holdings in shares of RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the period. &PARTNERS raised its holdings in RTX by 64.7% in the 1st quarter. &PARTNERS now owns 5,991 shares of the company’s stock valued at $584,000 after buying an additional 2,353 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after acquiring an additional 232,103 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.