RTX (NYSE:RTX) Stock Price Down 0.6% Following Analyst Downgrade

RTX Co. (NYSE:RTX) was down 0.6% during mid-day trading on Friday 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 $125.00 and last traded at $126.27. Approximately 627,373 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,505,950 shares. The stock had previously closed at $127.07.

Several other analysts also recently issued reports on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average target price of $164.73.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction 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. The trade was a 39.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of RTX during the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC raised its stake in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after buying an additional 3,164,844 shares during the period. Amundi grew its holdings in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $128.56 and its two-hundred day moving average price is $123.59. The company has a market cap of $171.21 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s dividend 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.