RTX (NYSE:RTX) Trading 0.2% Higher – Should You Buy?

RTX Co. (NYSE:RTX) shares shot up 0.2% during mid-day trading on Wednesday . The stock traded as high as $121.92 and last traded at $120.75. 925,260 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 5,527,791 shares. The stock had previously closed at $120.46.

Analyst Ratings Changes

Several research firms have commented on RTX. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. raised their target price 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. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.73.

RTX Stock Performance

The firm’s 50 day simple moving average is $128.56 and its 200 day simple moving average is $123.54. The firm has a market capitalization of $171.21 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate 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 forecast that RTX Co. will post 6.11 earnings per share for the current fiscal 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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

A number of large investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new stake in RTX during the 3rd quarter worth approximately $321,000. Continuum Advisory LLC boosted its position in RTX by 23.8% during the third quarter. Continuum Advisory LLC now owns 1,698 shares of the company’s stock worth $202,000 after acquiring an additional 326 shares during the last quarter. Soltis Investment Advisors LLC raised its holdings in RTX by 7.1% in the 3rd quarter. Soltis Investment Advisors LLC now owns 15,170 shares of the company’s stock valued at $1,838,000 after acquiring an additional 1,002 shares during the last quarter. Tudor Financial Inc. purchased a new position in RTX in the 3rd quarter worth approximately $797,000. Finally, World Investment Advisors LLC boosted its holdings in shares of RTX by 37.1% during the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock worth $4,944,000 after purchasing an additional 11,033 shares during the last quarter. 86.50% of the stock is currently 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.