RTX (NYSE:RTX) Shares Up 0.8% – Here’s Why

RTX Co. (NYSE:RTX)’s stock price rose 0.8% on Monday . The company traded as high as $129.47 and last traded at $129.38. Approximately 901,248 shares traded hands during trading, a decline of 84% from the average daily volume of 5,599,328 shares. The stock had previously closed at $128.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Five equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a fifty day moving average of $124.02 and a 200-day moving average of $121.83. The firm has a market cap of $171.17 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

Hedge funds and other institutional investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter valued at $29,000. 10Elms LLP purchased a new position in RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the fourth quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Finally, Greenline Partners LLC purchased a new position in RTX during the fourth quarter valued at approximately $34,000. Institutional investors 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.