RTX Corporation (NYSE:RTX) Declares Quarterly Dividend of $0.73

RTX Corporation (NYSE:RTX) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 20th will be given a dividend of $0.73 per share on Thursday, December 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th.

RTX has decreased its dividend payment by an average of 0.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. RTX has a dividend payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $8.00 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 36.5%.

RTX Price Performance

NYSE RTX opened at $199.99 on Friday. The stock has a 50-day simple moving average of $195.06 and a 200 day simple moving average of $195.52. RTX has a twelve month low of $166.74 and a twelve month high of $226.88. The stock has a market capitalization of $269.87 billion, a PE ratio of 32.47, a P/E/G ratio of 2.19 and a beta of 0.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. RTX had a return on equity of 14.89% and a net margin of 8.75%. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. During the same quarter last year, the firm posted $1.70 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that RTX will post 7.66 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Citigroup restated a “buy” rating on shares of RTX in a research note on Wednesday, October 7th. Morgan Stanley reissued an “overweight” rating and issued a $240.00 price target (up from $220.00) on shares of RTX in a report on Friday, July 24th. Wells Fargo & Company raised their price target on shares of RTX from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Jefferies Financial Group set a $250.00 price objective on shares of RTX and gave the stock a “buy” rating in a report on Sunday, July 26th. Finally, BNP Paribas Exane boosted their price objective on shares of RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $228.86.

About RTX

RTX Corporation (NYSE: RTX) is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.