RTX (NYSE:RTX) Shares Up 1.2% – What’s Next?

RTX Co. (NYSE:RTX)’s share price shot up 1.2% during mid-day trading on Wednesday . The stock traded as high as $135.02 and last traded at $134.26. 763,817 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,374,079 shares. The stock had previously closed at $132.69.

Analysts Set New Price Targets

Several brokerages have issued reports on RTX. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The company has a market capitalization of $179.82 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company’s 50-day moving average price is $126.04 and its two-hundred day moving average price is $122.30.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in RTX during the fourth quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. grew its position in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Amundi raised its position in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. raised its position in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in shares of RTX during the fourth quarter valued at about $216,340,000. Institutional investors and hedge funds 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.