RTX (NYSE:RTX) Trading Down 0.3% – Time to Sell?

Shares of RTX Co. (NYSE:RTX) fell 0.3% during trading on Friday . The stock traded as low as $127.70 and last traded at $128.89. 5,208,962 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 5,478,735 shares. The stock had previously closed at $129.25.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RTX. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Bank of America increased their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.27.

RTX Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $172.07 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The business’s 50-day moving average price is $128.59 and its 200 day moving average price is $123.80.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This represents a 39.52 % 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, CEO Christopher T. Calio sold 27,379 shares of the 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. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the fourth 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. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. Institutional investors own 86.50% of the company’s stock.

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.