RTX Co. (RTX) to Issue Quarterly Dividend of $0.63 on December 12th

RTX Co. (NYSE:RTX) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%.

RTX has raised its dividend payment by an average of 2.4% annually over the last three years. RTX has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 41.4%.

RTX Stock Down 0.8 %

RTX stock opened at $122.94 on Friday. The company has a market capitalization of $163.54 billion, a PE ratio of 71.06, a PEG ratio of 2.20 and a beta of 0.82. RTX has a 12-month low of $72.29 and a 12-month high of $125.93. The firm’s fifty day moving average is $119.71 and its 200 day moving average is $109.20. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. As a group, sell-side analysts predict that RTX will post 5.46 EPS for the current fiscal year.

Insider Activity at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.50.

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.