RTX (NYSE:RTX) Trading Up 0.5% After Better-Than-Expected Earnings

RTX Co. (NYSE:RTX)’s stock price rose 0.5% on Wednesday following a stronger than expected earnings report. The company traded as high as $127.21 and last traded at $126.13. Approximately 721,916 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 6,751,757 shares. The stock had previously closed at $125.53.

The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Wall Street Analyst Weigh In

Several brokerages have commented on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $165.88.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds have recently made changes to their positions in the stock. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX during the 2nd quarter worth approximately $41,000. Finally, ORG Wealth Partners LLC purchased a new position in RTX in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The business’s 50-day simple moving average is $121.27 and its two-hundred day simple moving average is $110.91. The stock has a market capitalization of $167.37 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 2.24 and a beta of 0.82.

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.