RTX (NYSE:RTX) Trading 0.2% Higher – Here’s Why

Shares of RTX Co. (NYSE:RTX) traded up 0.2% during trading on Monday . The stock traded as high as $132.12 and last traded at $131.99. 981,709 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 5,630,104 shares. The stock had previously closed at $131.72.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Price Performance

The company’s 50 day simple moving average is $128.96 and its 200 day simple moving average is $123.24. 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 capitalization of $177.36 billion, a PE ratio of 37.42, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS 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%. On average, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. RTX’s payout ratio is currently 70.99%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value 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 trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following 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. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

Institutional Trading of RTX

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in RTX during the fourth quarter valued at approximately $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its position in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Amundi increased its holdings in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. raised its position in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC acquired a new position in shares of RTX during the fourth quarter worth about $216,340,000. 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.