RTX Co. (NYSE:RTX) Plans Quarterly Dividend of $0.63

RTX Co. (NYSE:RTX) declared a quarterly dividend on Wednesday, October 9th,RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th.

RTX has increased its dividend payment by an average of 2.4% annually over the last three years. RTX has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.07 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 41.5%.

RTX Price Performance

RTX stock opened at $123.75 on Thursday. RTX has a 12 month low of $78.00 and a 12 month high of $128.70. The stock’s 50 day moving average is $122.21 and its 200-day moving average is $113.24. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $164.71 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts expect that RTX will post 5.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. Robert W. Baird increased their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.27.

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.