RTX (NYSE:RTX) Stock Jumps 2.1% – Here’s What Happened

RTX Corporation (NYSE:RTX)’s share price traded up 2.1% during trading on Tuesday. The company traded as high as $201.25 and last traded at $200.3880. Approximately 3,684,266 shares changed hands during trading, a decline of 32% from the average session volume of 5,381,978 shares. The stock had previously closed at $196.31.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 training rocket for the U.S. Army. The test supports progress on a system intended to replace the Army’s existing practice rocket, though it does not itself confirm a production contract. Raytheon advances Joint Reduced Range Rocket with third successful flight test
• Positive Sentiment: A report says RTX plans to increase production of Tomahawk and AMRAAM missiles as much as fourfold by 2030. The plan points to potential growth in defense output amid demand, but the article does not establish that all of the planned capacity is backed by new orders. Tomahawk, AMRAAM missiles could see fourfold production surge by 2030 under RTX plan
• Positive Sentiment: Zacks added RTX to its Rank #1 (Strong Buy) lists, including its income-stock list—an encouraging, though not company-specific, analyst signal. New Strong Buy Stocks for November 10th
• Neutral Sentiment: A valuation analysis notes RTX’s 154.1% three-year return and asks whether expected cash flows justify its current valuation. The headline raises a valuation question but does not provide enough detail here to establish a clear near-term catalyst. Is RTX Still Near Fair Value After New Defense Wins?

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of RTX in a research note on Wednesday, October 7th. Royal Bank Of Canada lowered their target price on RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Argus set a $245.00 target price on shares of RTX and gave the stock a “buy” rating in a report on Thursday, July 30th. Susquehanna raised their price target on shares of RTX from $235.00 to $245.00 and gave the company a “positive” rating in a research note on Friday, July 24th. Finally, Sanford C. Bernstein decreased their price target on shares of RTX from $223.00 to $214.00 and set a “market perform” rating on the stock in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.24.

RTX Stock Performance

The company has a fifty day moving average price of $193.15 and a two-hundred day moving average price of $195.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The company has a market capitalization of $270.41 billion, a P/E ratio of 32.53, a PEG ratio of 2.21 and a beta of 0.30.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 8.75% and a return on equity of 14.89%. The business had revenue of $24.96 billion during the quarter, compared to analyst estimates of $24.11 billion. During the same quarter last year, the business earned $1.70 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be issued a $0.73 dividend. The ex-dividend date is Friday, November 20th. This represents a $2.92 annualized dividend and a yield of 1.5%. RTX’s dividend payout ratio is presently 47.40%.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 13,655 shares of RTX stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total value of $3,057,627.60. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company’s stock, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya Williams sold 9,071 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total value of $1,829,620.70. Following the transaction, the executive vice president owned 16,930 shares in the company, valued at $3,414,781. The trade was a 34.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently made changes to their positions in RTX. BlackRock Inc. bought a new stake in RTX during the 2nd quarter worth approximately $20,970,571,000. State Street Corp boosted its position in shares of RTX by 3.1% during the second quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after buying an additional 2,828,056 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in RTX by 5.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company’s stock worth $1,649,501,000 after buying an additional 411,356 shares in the last quarter. Amundi raised its position in RTX by 4.0% in the 2nd quarter. Amundi now owns 7,768,207 shares of the company’s stock valued at $1,473,862,000 after buying an additional 295,964 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in RTX in the 2nd quarter valued at $1,456,256,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

About RTX

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.