RTX (NYSE:RTX) Trading 2.4% Higher – Here’s Why

RTX Co. (NYSE:RTX)’s share price traded up 2.4% during trading on Thursday . The company traded as high as $130.70 and last traded at $130.41. 1,379,459 shares traded hands during trading, a decline of 71% from the average session volume of 4,685,962 shares. The stock had previously closed at $127.31.

Analyst Ratings Changes

Several analysts recently weighed in on RTX shares. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” 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. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

The stock has a market cap of $173.83 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The stock has a fifty day moving average of $122.09 and a 200-day moving average of $121.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its 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 return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.93%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several hedge funds have recently modified their holdings of RTX. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the third quarter worth approximately $29,000. 10Elms LLP acquired a new position in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management increased its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Finally, Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter valued at $34,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.