RTX (NYSE:RTX) Shares Up 0.9%

RTX Co. (NYSE:RTX)’s stock price was up 0.9% on Monday . The stock traded as high as $119.73 and last traded at $119.60. Approximately 490,972 shares changed hands during trading, a decline of 93% from the average daily volume of 7,174,509 shares. The stock had previously closed at $118.52.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group increased their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Stock Performance

The stock has a market capitalization of $160.66 billion, a price-to-earnings ratio of 47.39, a P/E/G ratio of 2.08 and a beta of 0.82. The company’s fifty day simple moving average is $109.17 and its 200 day simple moving average is $102.71. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 EPS. On average, equities research analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.09%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter valued at $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in RTX during the 1st quarter worth $42,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

About RTX

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.