RTX (NYSE:RTX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a report released on Saturday morning.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the stock a neutral rating in a report on Monday, July 29th. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a neutral rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Finally, Bank of America upgraded shares of RTX from a neutral rating to a buy rating and raised their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $153.47.

RTX Trading Down 1.1 %

RTX stock opened at $115.20 on Friday. The firm has a 50-day moving average of $105.71 and a 200-day moving average of $99.68. RTX has a one year low of $68.56 and a one year high of $118.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $153.24 billion, a price-to-earnings ratio of 45.18, a P/E/G ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results 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 net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the firm earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that RTX will post 5.44 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold 198,213 shares of company stock valued at $22,963,593 over the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

A number of large investors have recently bought and sold shares of RTX. RFG Advisory LLC raised its position in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new position in RTX in the 4th quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in RTX during the 4th quarter valued at $672,000. Mather Group LLC. increased its stake in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Finally, AllGen Financial Advisors Inc. boosted its holdings in RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after buying an additional 3,657 shares during the period. 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.