RTX (NYSE:RTX) Upgraded to “Strong-Buy” by TD Cowen

TD Cowen upgraded shares of RTX (NYSE:RTX) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

A number of other analysts also recently commented on RTX. StockNews.com raised RTX from a hold rating to a buy rating in a research report on Friday, September 6th. Alembic Global Advisors upgraded RTX from a neutral rating to an overweight rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company reduced their price target on shares of RTX from $491.00 to $467.00 and set an equal weight rating for the company in a research report on Wednesday, July 24th. Susquehanna lifted their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a positive rating in a research report on Friday, July 26th. Finally, Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the company a neutral rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of Hold and an average target price of $162.50.

RTX Stock Up 0.8 %

Shares of NYSE:RTX opened at $123.93 on Tuesday. The stock has a market cap of $164.86 billion, a price-to-earnings ratio of 71.64, a PEG ratio of 2.20 and a beta of 0.82. The business’s 50 day moving average is $119.86 and its 200 day moving average is $109.40. RTX has a 12-month low of $72.29 and a 12-month high of $125.93. 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 posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that RTX will post 5.46 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. RTX’s dividend payout ratio (DPR) is currently 145.67%.

Insider Activity at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX 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 completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of large investors have recently modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its position in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the period. Hsbc Holdings PLC grew its holdings in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after purchasing an additional 792,830 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in shares of RTX in the fourth quarter worth $42,506,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.