RTX (NYSE:RTX) Stock Price Down 2.5% – Time to Sell?

RTX Co. (NYSE:RTX) shares dropped 2.5% on Monday . The company traded as low as $121.38 and last traded at $122.68. Approximately 7,714,193 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 4,715,731 shares. The stock had previously closed at $125.84.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday. UBS Group raised their price objective on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays upped their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.07.

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 business’s 50-day simple moving average is $120.79 and its 200-day simple moving average is $120.68. The stock has a market cap of $163.42 billion, a PE ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 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%. On average, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter valued at about $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Hedge funds and other 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.