RTX (NYSE:RTX) Trading Up 0.1% – Here’s Why

RTX Co. (NYSE:RTX)’s share price was up 0.1% during mid-day trading on Thursday . The stock traded as high as $134.96 and last traded at $134.43. Approximately 549,744 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,338,507 shares. The stock had previously closed at $134.33.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley raised their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Four 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Down 0.5 %

The business has a 50 day moving average of $128.12 and a two-hundred day moving average of $122.87. The firm has a market cap of $178.39 billion, a P/E ratio of 37.64, a PEG ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RTX. Vanguard Group Inc. increased its holdings in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its position in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC increased its stake in RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Franklin Resources Inc. raised its position in RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new stake in RTX during the fourth quarter worth $1,745,644,000. 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.