RTX (NYSE:RTX) Stock Price Down 0.8% - Here's What Happened

RTX Co. (NYSE:RTX) saw its shares decline by 0.8% during trading on Thursday. The stock dropped to a low of $125.19 before recovering slightly to last trade at $126.21. During mid-day trading, 656,167 shares exchanged hands, demonstrating a significant drop of 90% from the average session volume of 6,745,125 shares. The stock had closed the previous day at $127.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued their predictions regarding RTX. Notably, Bank of America upgraded RTX from a "neutral" rating to a "buy" rating, increasing their price target for the stock from $110.00 to $140.00 in a report released on July 31st. Similarly, StockNews.com raised RTX from a "hold" to a "buy" rating on September 6th. Melius Research adjusted its target price from $490.00 to $493.00 on July 24th. The Goldman Sachs Group raised its target on RTX shares from $94.00 to $104.00, maintaining a "neutral" outlook on July 29th. Moreover, TD Cowen classified the shares as a "strong-buy" on October 8th. Overall, one analyst rates the stock as a sell, ten recommend holding, five advocate for buying, and one emphasizes strong buying. MarketBeat reports a consensus rating of "Hold" for the company, with an average price target set at $168.56.

RTX Stock Performance

When analyzing the financial metrics of RTX, the company has a quick ratio of 0.73, a current ratio of 0.99, and a debt-to-equity ratio of 0.62. Currently, the market capitalization stands at $167.13 billion. The stock’s price-to-earnings ratio is 36.06 and the price-to-earnings-growth ratio is 2.21, while the beta is measured at 0.82. The 50-day simple moving average is $121.46, while the 200-day simple moving average is $111.02.

RTX Dividend Announcement

Recently, the company announced a quarterly dividend scheduled for payment on Thursday, December 12th. Shareholders who are on record as of Friday, November 15th will receive a dividend of $0.63 per share, which represents an annualized total of $2.52 and yields about 2.01%. The ex-dividend date is also set for November 15th. RTX's dividend payout ratio currently stands at 72.00%.

Insider Activity at RTX

In insider trading news, Shane G. Eddy sold 6,741 shares of RTX on July 26th at an average price of $114.76, totaling approximately $773,597.16. This transaction was reported in a filing with the SEC, which is publicly available. Additionally, Chairman Gregory Hayes sold 134,887 shares on July 31st for an average price of $117.74, bringing the total sale value to around $15,881,595.38. Following this transaction, Hayes retains ownership of 566,723 shares valued at approximately $66,725,966.02, resulting in no significant change in his position percentage-wise. In total, insiders sold 178,333 shares within the last three months, amounting to $20,861,880, with 0.13% of the stock held by these insiders.

Institutional Investors Weigh In On RTX

Recent activity among institutional investors shows changes in their positions in RTX. Kavar Capital Partners Group LLC increased its stake by 4.4% in the third quarter, now holding 2,219 shares valued at $269,000 after acquiring additional shares. TCV Trust & Wealth Management Inc. also purchased a new stake in RTX, valued at approximately $1,689,000 during the same quarter. Clear Harbor Asset Management LLC raised its hold by 1.2% and now owns 86,214 shares valued at $10,446,000 after the last quarter's purchase. Smith Salley Wealth Management boosted its stake by 3.0%, holding 192,210 shares valued at $23,288,000 after adding 5,553 shares recently. Finally, MCF Advisors LLC increased their holdings by 2.1%, now owning 9,966 shares valued at $1,207,000. In total, institutional investors own 86.50% of RTX shares.

About RTX

RTX Corporation is an aerospace and defense entity that offers systems and services to government, military, and commercial clients both domestically and globally. The company's operations are structured into three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace division provides a variety of aerospace and defense product solutions along with aftermarket services for civil and military aircraft, as well as commercial airlines, regional, business, and general aviation, defense, and commercial space operations.

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