RTX (NYSE:RTX) Trading Up 0.1% – What’s Next?

RTX Co. (NYSE:RTX)’s share price rose 0.1% during mid-day trading on Thursday . The company traded as high as $134.96 and last traded at $134.43. Approximately 549,744 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 5,338,507 shares. The stock had previously closed at $134.33.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The firm has a market capitalization of $178.39 billion, a P/E ratio of 37.64, a PEG ratio of 2.11 and a beta of 0.78. The company has a fifty day moving average of $128.12 and a 200 day moving average of $122.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its quarterly 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%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, 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. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Institutional investors have recently modified their holdings of the company. FMR LLC raised its position in RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the period. Quantbot Technologies LP purchased a new stake in RTX in the third quarter worth $405,000. Transamerica Financial Advisors Inc. purchased a new stake in RTX in the third quarter worth about $1,496,000. Cadence Bank raised its stake in RTX by 1.4% during the third quarter. Cadence Bank now owns 148,840 shares of the company’s stock valued at $18,033,000 after buying an additional 1,992 shares during the last quarter. Finally, RS Crum Inc. boosted its stake in RTX by 4.0% in the 3rd quarter. RS Crum Inc. now owns 3,892 shares of the company’s stock worth $472,000 after purchasing an additional 150 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.