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

RTX Co. (NYSE:RTX)’s share price was up 1.4% during mid-day trading on Tuesday . The company traded as high as $125.33 and last traded at $124.13. Approximately 1,492,900 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,693,792 shares. The stock had previously closed at $122.41.

Analyst Ratings Changes

Several research firms recently commented on RTX. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. 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. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Down 0.1 %

The company has a market capitalization of $166.85 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.09 and a beta of 0.82. The stock has a 50 day moving average of $121.38 and a 200-day moving average of $120.83. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. On average, research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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 2.01%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction 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. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the third quarter worth about $29,000. 10Elms LLP bought a new position in RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Finally, Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.