RTX (NYSE:RTX) Upgraded to “Overweight” at Alembic Global Advisors

Alembic Global Advisors upgraded shares of RTX (NYSE:RTX) from a neutral rating to an overweight rating in a research note published on Tuesday, Marketbeat reports. They currently have $134.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a neutral rating in a research report on Friday, July 26th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Susquehanna lifted their target price on RTX from $119.00 to $140.00 and gave the company a positive rating in a research report on Friday, July 26th. Finally, TD Cowen boosted their price target on RTX from $115.00 to $142.00 and gave the stock a buy rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $153.47.

RTX Price Performance

RTX opened at $116.45 on Tuesday. The business has a fifty day moving average of $105.54 and a 200 day moving average of $99.28. RTX has a 52-week low of $68.56 and a 52-week high of $118.30. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market cap of $154.91 billion, a P/E ratio of 45.67, a PEG ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 EPS. RTX’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX will post 5.44 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.16%. RTX’s payout ratio is presently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,213 shares of company stock worth $22,963,593. 0.13% of the stock is currently owned by insiders.

Institutional Trading of RTX

A number of hedge funds have recently modified their holdings of the stock. Pursue Wealth Partners LLC purchased a new stake in shares of RTX in the second quarter worth about $216,000. Belpointe Asset Management LLC boosted its stake in shares of RTX by 109.1% in the second quarter. Belpointe Asset Management LLC now owns 28,836 shares of the company’s stock worth $2,895,000 after buying an additional 15,047 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of RTX by 97.1% in the second quarter. Larson Financial Group LLC now owns 4,168 shares of the company’s stock worth $418,000 after buying an additional 2,053 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of RTX by 17.7% in the second quarter. Simon Quick Advisors LLC now owns 5,065 shares of the company’s stock worth $508,000 after buying an additional 763 shares during the last quarter. Finally, Weaver Capital Management LLC boosted its stake in shares of RTX by 1.7% in the second quarter. Weaver Capital Management LLC now owns 10,569 shares of the company’s stock worth $1,061,000 after buying an additional 173 shares during the last quarter. 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.