RTX (NYSE:RTX) Shares Up 0.7% – Here’s Why

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Alembic Global Advisors raised 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $162.50.

RTX Price Performance

The firm has a fifty day moving average of $120.50 and a two-hundred day moving average of $110.07. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $167.28 billion, a PE ratio of 72.81, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share 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 firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 145.67%.

Insider Activity

In other news, CEO Christopher T. Calio sold 4,235 shares of RTX 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Dantaya M. Williams sold 17,570 shares of the 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 directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Elgethun Capital Management lifted its position in RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the period. Alpha Omega Wealth Management LLC increased its stake in shares of RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares in the last quarter. Lazari Capital Management Inc. lifted its position in RTX by 1.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $603,000 after acquiring an additional 95 shares during the period. Fermata Advisors LLC boosted its stake in RTX by 4.3% during the third quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after acquiring an additional 96 shares in the last quarter. Finally, Motco lifted its holdings in shares of RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other 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.