RTX (NYSE:RTX) Shares Up 1.2% – Still a Buy?

RTX Co. (NYSE:RTX)’s stock price was up 1.2% during trading on Wednesday . The stock traded as high as $135.02 and last traded at $134.26. Approximately 763,817 shares changed hands during trading, a decline of 86% from the average daily volume of 5,374,079 shares. The stock had previously closed at $132.69.

Analyst Ratings Changes

Several brokerages recently issued reports on RTX. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research upgraded shares of 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, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Price Performance

The stock has a market capitalization of $179.82 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $126.04 and a 200 day simple moving average of $122.30.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is currently owned by insiders.

Institutional Trading of RTX

A number of large investors have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the third quarter valued at $29,000. Chesapeake Wealth Management lifted its stake in shares of RTX by 10.7% during the third quarter. Chesapeake Wealth Management now owns 10,126 shares of the company’s stock valued at $1,227,000 after acquiring an additional 979 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of RTX by 3,872.8% during the third quarter. Meeder Asset Management Inc. now owns 29,518 shares of the company’s stock valued at $3,576,000 after acquiring an additional 28,775 shares during the period. Prospera Financial Services Inc lifted its stake in shares of RTX by 3.6% during the third quarter. Prospera Financial Services Inc now owns 72,700 shares of the company’s stock valued at $8,813,000 after acquiring an additional 2,537 shares during the period. Finally, BIP Wealth LLC increased its holdings in RTX by 37.2% in the third quarter. BIP Wealth LLC now owns 6,576 shares of the company’s stock valued at $797,000 after purchasing an additional 1,784 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.