Brokerages Set RTX Co. (NYSE:RTX) PT at $163.07

RTX Co. (NYSE:RTX) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $163.40.

Several research firms recently commented on RTX. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,334 shares of company stock valued at $4,639,194. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the third quarter worth $29,000. 10Elms LLP acquired a new stake in shares of RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new stake in shares of RTX during the fourth quarter worth $34,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX stock opened at $133.02 on Friday. The stock has a 50 day moving average of $122.72 and a two-hundred day moving average of $121.38. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX has a 12 month low of $88.95 and a 12 month high of $133.09. The company has a market capitalization of $177.19 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts expect that RTX will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

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.