RTX (NYSE:RTX) Trading Up 0.2% – What’s Next?

RTX Co. (NYSE:RTX) shares shot up 0.2% during trading on Tuesday . The stock traded as high as $118.50 and last traded at $118.18. 1,491,809 shares changed hands during trading, a decline of 78% from the average session volume of 6,681,454 shares. The stock had previously closed at $118.00.

Analysts Set New Price Targets

Several research firms have recently issued reports on RTX. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Down 1.2 %

The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $159.83 billion, a PE ratio of 34.60, a PEG ratio of 2.09 and a beta of 0.82. The company’s 50 day moving average is $122.13 and its two-hundred day moving average is $112.48.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

Hedge Funds Weigh In On RTX

Several large investors have recently modified their holdings of RTX. Manning & Napier Advisors LLC purchased a new stake in shares of RTX in the second quarter worth approximately $30,837,000. O Shaughnessy Asset Management LLC increased its stake in RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the last quarter. 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.