RTX (NYSE:RTX) Sets New 1-Year High – Still a Buy?

RTX Co. (NYSE:RTX) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $135.74 and last traded at $135.47, with a volume of 7079133 shares. The stock had previously closed at $132.69.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50-day moving average price is $127.15 and its two-hundred day moving average price is $122.54. The firm has a market cap of $176.70 billion, a price-to-earnings ratio of 37.28, a P/E/G 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 earnings per share for the quarter, topping 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%. On average, research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Activity

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by insiders.

Institutional Trading of RTX

Several hedge funds have recently made changes to their positions in the stock. 10Elms LLP bought a new stake in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC bought a new stake in RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management boosted its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new position in RTX in the 4th quarter worth about $34,000. Finally, Modus Advisors LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $39,000. Institutional investors own 86.50% of the company’s stock.

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.