Brokerages Set RTX Co. (NYSE:RTX) Target Price at $98.33

Shares of RTX Co. (NYSE:RTX) have earned an average rating of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $98.33.

RTX has been the subject of several recent research reports. Susquehanna boosted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th.

Insider Buying and Selling

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,042 shares of company stock valued at $12,266,459. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors have recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. lifted its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Valley National Advisers Inc. lifted its holdings in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new stake in RTX in the 3rd quarter worth approximately $37,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $105.52 on Friday. The business’s 50-day moving average price is $101.51 and its 200-day moving average price is $91.74. RTX has a 12 month low of $68.56 and a 12 month high of $107.82. The firm has a market capitalization of $140.29 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 1.86 and a beta of 0.84. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. Equities research analysts forecast that RTX will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.39%. RTX’s dividend payout ratio is 98.82%.

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.