RTX (NYSE:RTX) Hits New 12-Month High – Here’s Why

RTX Co. (NYSE:RTX) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $135.94 and last traded at $135.84, with a volume of 3989259 shares traded. The stock had previously closed at $134.69.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

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’s 50 day simple moving average is $127.81 and its 200 day simple moving average is $122.79. The firm has a market cap of $181.36 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.86%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of RTX in the 4th quarter valued at about $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its position in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi grew its stake in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in shares of RTX during the 4th quarter valued at $216,340,000. 86.50% of the stock is currently owned by 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.