RTX (NYSE:RTX) Reaches New 12-Month High – Here’s What Happened

RTX Co. (NYSE:RTX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $128.70 and last traded at $127.25, with a volume of 403606 shares. The stock had previously closed at $125.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus target price of $162.50.

RTX Stock Up 0.1 %

The firm has a 50-day moving average price of $120.91 and a two-hundred day moving average price of $110.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $167.53 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. On average, sell-side analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were 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. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 in the last 90 days. 0.13% of the stock is owned by insiders.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the 2nd quarter worth $41,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of RTX in the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.