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

RTX Co. (NYSE:RTX) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 21st will be paid a dividend of 0.63 per share on Thursday, March 20th. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 21st.

RTX has raised its dividend payment by an average of 7.3% per year over the last three years. RTX has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RTX to earn $6.79 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 37.1%.

RTX Stock Up 0.8 %

Shares of NYSE RTX opened at $130.03 on Tuesday. RTX has a 12-month low of $88.90 and a 12-month high of $132.43. The stock has a market cap of $173.07 billion, a PE ratio of 36.63, a P/E/G ratio of 2.17 and a beta of 0.82. 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 company has a 50-day moving average of $119.37 and a 200 day moving average of $119.59.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts predict that RTX will post 6.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, UBS Group upped their price objective on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.