RTX (NYSE:RTX) Sets New 52-Week High – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $135.94 and last traded at $135.84, with a volume of 3989259 shares changing hands. The stock had previously closed at $134.69.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Down 0.7 %

The firm has a market capitalization of $178.14 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.11 and a beta of 0.78. The business’s fifty day moving average price is $128.38 and its 200 day moving average price is $122.94. 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 (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date of this dividend was 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%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’s 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 approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

Large investors have recently added to or reduced their stakes in the business. 10Elms LLP acquired a new stake in shares of RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised 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 acquiring an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter valued at $34,000. Finally, Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter valued at $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.