RTX (NYSE:RTX) Stock Price Down 0.5% Following Analyst Downgrade

Shares of RTX Co. (NYSE:RTX) dropped 0.5% during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $153.00 to $148.00. Citigroup currently has a buy rating on the stock. RTX traded as low as $126.70 and last traded at $127.77. Approximately 1,212,485 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 5,504,766 shares. The stock had previously closed at $128.43.

A number of other research analysts have also issued reports on the stock. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.73.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’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 sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds have recently bought and sold shares of the company. Strategic Planning Group LLC grew its position in shares of RTX by 6.9% in the 1st quarter. Strategic Planning Group LLC now owns 37,739 shares of the company’s stock worth $4,999,000 after acquiring an additional 2,429 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of RTX by 27,033.3% during the first quarter. Contravisory Investment Management Inc. now owns 4,070 shares of the company’s stock worth $539,000 after purchasing an additional 4,055 shares during the period. Accel Wealth Management boosted its holdings in shares of RTX by 65.1% in the 1st quarter. Accel Wealth Management now owns 15,174 shares of the company’s stock valued at $2,010,000 after buying an additional 5,984 shares during the period. Apella Capital LLC grew its position in shares of RTX by 111.7% during the 1st quarter. Apella Capital LLC now owns 4,975 shares of the company’s stock valued at $639,000 after buying an additional 2,625 shares during the last quarter. Finally, Smith Anglin Financial LLC acquired a new stake in RTX during the first quarter worth about $217,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

The company has a market capitalization of $170.50 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 2.11 and a beta of 0.58. The stock has a 50 day simple moving average of $128.62 and a 200 day simple moving average of $123.49. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. RTX’s payout ratio is currently 70.99%.

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.