RTX (NYSE:RTX) Shares Up 1.4% – Here’s Why

RTX Co. (NYSE:RTX) shares traded up 1.4% during trading on Tuesday . The company traded as high as $125.33 and last traded at $124.13. 1,492,900 shares traded hands during trading, a decline of 68% from the average session volume of 4,693,792 shares. The stock had previously closed at $122.41.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Up 0.9 %

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 cap of $164.54 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company’s 50-day moving average price is $121.03 and its 200 day moving average price is $120.77.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred 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 approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new stake in RTX in the 3rd quarter worth approximately $29,000. 10Elms LLP bought a new stake in RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC bought a new stake in RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Finally, Greenline Partners LLC bought a new stake in RTX in the 4th quarter worth approximately $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.