RTX (NYSE:RTX) Trading 1.4% Higher – Still a Buy?

RTX Co. (NYSE:RTX) shares rose 1.4% on Tuesday . The company traded as high as $125.33 and last traded at $124.13. Approximately 1,492,900 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,693,792 shares. The stock had previously closed at $122.41.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Barclays upped their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Trading Down 0.1 %

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 market cap of $166.85 billion, a PE ratio of 35.28, a PEG ratio of 2.09 and a beta of 0.82. The firm has a fifty day simple moving average of $121.38 and a two-hundred day simple moving average of $120.83.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several institutional investors have recently added to or reduced their stakes in RTX. Forum Financial Management LP boosted its holdings in shares of RTX by 41.7% during the fourth quarter. Forum Financial Management LP now owns 19,020 shares of the company’s stock worth $2,201,000 after purchasing an additional 5,596 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in RTX in the 4th quarter worth approximately $1,198,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $294,000. WCG Wealth Advisors LLC increased its stake in shares of RTX by 26.4% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,934 shares of the company’s stock valued at $1,728,000 after buying an additional 3,118 shares during the period. Finally, Strait & Sound Wealth Management LLC raised its holdings in shares of RTX by 8.6% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 7,024 shares of the company’s stock valued at $813,000 after acquiring an additional 559 shares in 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.