RTX (NYSE:RTX) Stock Price Up 1.6% – Here’s What Happened

RTX Co. (NYSE:RTX)’s stock price was up 1.6% during trading on Monday . The company traded as high as $132.69 and last traded at $132.04. Approximately 944,980 shares changed hands during trading, a decline of 82% from the average daily volume of 5,391,133 shares. The stock had previously closed at $129.99.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RTX shares. Susquehanna increased their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $176.99 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78. The firm’s fifty day simple moving average is $126.04 and its 200 day simple moving average is $122.30.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.90%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. increased its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after purchasing an additional 79 shares during the last quarter. Fusion Capital LLC increased its holdings in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc increased its holdings in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. increased its holdings in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC increased its holdings in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

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.