RTX (NYSE:RTX) Stock Price Up 0.1% – Here’s What Happened

RTX Co. (NYSE:RTX)’s share price traded up 0.1% on Wednesday . The stock traded as high as $129.97 and last traded at $128.88. 1,300,033 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 5,609,123 shares. The stock had previously closed at $128.70.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RTX shares. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their target price 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. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $173.60 billion, a P/E ratio of 36.71, a PEG ratio of 2.11 and a beta of 0.78. The business has a 50-day moving average price of $123.30 and a 200 day moving average price of $121.59.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % 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. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. raised its position in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC increased its stake in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc raised its holdings in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. lifted its position in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC boosted its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after buying an additional 81 shares during the period. 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.