RTX (NYSE:RTX) Hits New 12-Month High at $119.38

RTX Co. (NYSE:RTX)’s share price reached a new 52-week high on Monday . The stock traded as high as $119.38 and last traded at $119.19, with a volume of 197785 shares trading hands. The stock had previously closed at $118.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $153.47.

RTX Stock Up 0.7 %

The business has a 50-day moving average price of $109.17 and a 200-day moving average price of $102.71. The stock has a market cap of $158.86 billion, a PE ratio of 46.86, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of RTX by 12,753.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after buying an additional 1,389,143 shares during the period. Mather Group LLC. increased its stake in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares during the last quarter. Choreo LLC raised its position in RTX by 54.2% in the fourth quarter. Choreo LLC now owns 43,161 shares of the company’s stock valued at $3,632,000 after purchasing an additional 15,175 shares during the period. Naviter Wealth LLC lifted its stake in shares of RTX by 49.4% in the 4th quarter. Naviter Wealth LLC now owns 17,967 shares of the company’s stock valued at $1,512,000 after purchasing an additional 5,941 shares during the last quarter. Finally, Greatmark Investment Partners Inc. purchased a new position in shares of RTX during the 4th quarter worth $224,000. 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.