RTX (NYSE:RTX) Stock Price Up 0.7% – Should You Buy?

Shares of RTX Co. (NYSE:RTX) rose 0.7% on Tuesday . The stock traded as high as $126.78 and last traded at $125.52. Approximately 1,512,479 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 6,818,690 shares. The stock had previously closed at $124.64.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and boosted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $162.50.

RTX Stock Performance

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 business has a 50-day simple moving average of $120.05 and a 200-day simple moving average of $109.77. The firm has a market capitalization of $166.71 billion, a PE ratio of 49.18, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last issued 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 business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that RTX Co. will post 5.46 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio is 98.82%.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

Institutional Trading of RTX

Several hedge funds and other institutional investors have recently bought and sold shares of RTX. Chicago Partners Investment Group LLC boosted its position in RTX by 2.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 9,310 shares of the company’s stock valued at $833,000 after acquiring an additional 202 shares in the last quarter. SageView Advisory Group LLC bought a new stake in RTX during the 4th quarter valued at $1,485,000. Leo Wealth LLC bought a new stake in RTX during the 4th quarter valued at $380,000. Fairman Group LLC bought a new stake in RTX during the 4th quarter valued at $38,000. Finally, ST Germain D J Co. Inc. boosted its position in RTX by 11.9% during the 1st quarter. ST Germain D J Co. Inc. now owns 16,400 shares of the company’s stock valued at $1,599,000 after acquiring an additional 1,742 shares in the last quarter. 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.