RTX (NYSE:RTX) Trading Up 1.7% – Here’s What Happened

RTX Co. (NYSE:RTX) shares were up 1.7% on Wednesday . The company traded as high as $122.55 and last traded at $120.99. Approximately 1,696,411 shares traded hands during trading, a decline of 75% from the average daily volume of 6,688,974 shares. The stock had previously closed at $118.98.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RTX shares. Barclays boosted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Citigroup boosted their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird boosted 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. Finally, Wells Fargo & Company decreased their target price 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. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $122.11 and its two-hundred day moving average is $112.42. The stock has a market cap of $161.83 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a dividend yield of 2.07%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its stake in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its stake in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC lifted its stake in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares in the last quarter. Legal & General Group Plc lifted its stake in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares in the last quarter. 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.