RTX (NYSE:RTX) Shares Down 0.8% - Time to Sell?

RTX Co. (NYSE:RTX) saw its shares decline by 0.8% in Thursday's trading session. The stock reached a low of $125.19 before recovering slightly to close at $126.21. The trading volume during the day was approximately 656,167 shares, a significant drop of 90% compared to the average volume of around 6.7 million shares. The stock's previous closing price was $127.21.

Wall Street Analysts Forecast Growth

Analysts are optimistic about RTX's potential for growth. Several brokerage firms have recently updated their ratings and price targets for the stock. Bank of America upgraded RTX from a 'neutral' to a 'buy' rating and set a new price target of $140.00, up from $110.00. Similarly, StockNews.com raised its rating from 'hold' to 'buy'. Melius Research increased their target price to $493.00, while Goldman Sachs adjusted theirs from $94.00 to $104.00, maintaining a 'neutral' stance. Furthermore, TD Cowen recently designated RTX as a 'strong-buy'. Out of the analysts tracking the stock, one suggested a sell, ten recommended holding, five advised buying, and one strongly urged buying. Currently, the consensus rating stands at 'Hold', with an average price target of $168.56.

RTX Stock Performance

RTX displays a quick ratio of 0.73, a current ratio of 0.99, and a debt-to-equity ratio of 0.62. The company's market capitalization is approximately $167.13 billion, with a price-to-earnings ratio of 36.06 and a price-to-earnings-growth ratio of 2.21. The stock has shown stability with a 50-day moving average of $121.46 and a 200-day average of $111.02.

RTX Dividend Announcement

RTX recently announced that it will pay a quarterly dividend, set for distribution on December 12. Shareholders registered by November 15 will receive $0.63 per share, which amounts to an annualized dividend yield of 2.01%. The ex-dividend date is also scheduled for November 15, with a current payout ratio of 72.00%.

Insider Activity at RTX

Recent insider trading activity has seen noticeable sales. On July 26, insider Shane G. Eddy sold 6,741 shares at an average price of $114.76, totaling about $773,597. Similarly, Chairman Gregory Hayes sold 134,887 shares on July 31 at an average price of $117.74, amounting to approximately $15.88 million. Post-sale, Hayes still holds around 566,723 shares valued at about $66.73 million. Over the past three months, insiders collectively sold 178,333 shares worth around $20.86 million. Currently, 0.13% of the company’s stock is owned by insiders.

Institutional Investors Weigh In On RTX

A variety of institutional investors have been actively trading RTX shares. For instance, Kavar Capital Partners Group LLC increased its ownership by 4.4% in the third quarter, giving them 2,219 shares valued at $269,000. TCV Trust & Wealth Management Inc. initiated a new stake in RTX worth approximately $1.69 million during the same period. Clear Harbor Asset Management LLC also raised its position by 1.2% with 86,214 shares now valued at $10.45 million. Smith Salley Wealth Management enhanced its stake by 3.0%, and MCF Advisors LLC increased their holdings by 2.1%. Notably, institutional investors hold about 86.50% of the company's stock.

About RTX

RTX Corporation is a major player in the aerospace and defense sector, providing various systems and services to both commercial and government customers globally. The company operates through three main divisions: Collins Aerospace, Pratt & Whitney, and Raytheon, catering to a diverse array of civil and military aviation needs.

stocks, dividends, market