RTX (NYSE:RTX) Sets New 1-Year High – Here’s What Happened

RTX Co. (NYSE:RTX)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $132.43 and last traded at $132.21, with a volume of 403187 shares trading hands. The stock had previously closed at $130.52.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Susquehanna lifted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Price Performance

The stock has a 50-day moving average price of $122.39 and a 200 day moving average price of $121.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $177.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,334 shares of company stock worth $4,639,194 in the last quarter. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Pallas Capital Advisors LLC increased its position in RTX by 30.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,104 shares of the company’s stock worth $639,000 after purchasing an additional 1,192 shares during the period. Strategic Blueprint LLC boosted its stake in shares of RTX by 2.8% during the 3rd quarter. Strategic Blueprint LLC now owns 7,345 shares of the company’s stock worth $890,000 after acquiring an additional 201 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in shares of RTX by 2.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 4,861 shares of the company’s stock worth $589,000 after acquiring an additional 93 shares in the last quarter. Fiducient Advisors LLC boosted its stake in shares of RTX by 1.0% during the 3rd quarter. Fiducient Advisors LLC now owns 24,304 shares of the company’s stock worth $2,945,000 after acquiring an additional 243 shares in the last quarter. Finally, Goldstone Financial Group LLC purchased a new stake in shares of RTX during the 3rd quarter worth approximately $275,000. Institutional investors and hedge funds 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.