RTX (NYSE:RTX) Trading Up 0.1% – Here’s Why

RTX Co. (NYSE:RTX) shares were up 0.1% during mid-day trading on Tuesday . The stock traded as high as $132.91 and last traded at $132.64. Approximately 903,369 shares traded hands during trading, a decline of 82% from the average daily volume of 4,977,540 shares. The stock had previously closed at $132.46.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $129.13 and a 200 day moving average price of $123.31. The stock has a market capitalization of $177.97 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the 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 transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

Large investors have recently modified their holdings of the business. CX Institutional boosted its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares during the last quarter. National Pension Service grew its stake in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after buying an additional 375,781 shares during the period. LRI Investments LLC increased its holdings in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares during the last quarter. Czech National Bank raised its position in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after buying an additional 17,608 shares during the period. Finally, Archer Investment Corp grew its position in RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.