RTX (NYSE:RTX) Stock Price Up 0.9%

RTX Co. (NYSE:RTX) rose 0.9% on Thursday . The company traded as high as $121.97 and last traded at $121.89. Approximately 638,041 shares were traded during trading, a decline of 91% from the average daily volume of 7,134,223 shares. The stock had previously closed at $120.84.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research reports. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. The Goldman Sachs Group increased 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. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company decreased their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $153.47.

RTX Price Performance

The company has a market cap of $162.75 billion, a P/E ratio of 47.80, a PEG ratio of 2.09 and a beta of 0.82. The firm’s 50-day moving average is $109.49 and its two-hundred day moving average is $102.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm 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 company earned $1.29 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.06%. RTX’s payout ratio is presently 98.82%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the 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 in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently modified their holdings of RTX. Briaud Financial Planning Inc boosted 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 buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX during the 2nd quarter worth $41,000. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of RTX during the first quarter worth about $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.