RTX (NYSE:RTX) Shares Up 0.2% – Still a Buy?

Shares of RTX Co. (NYSE:RTX) traded up 0.2% on Wednesday . The stock traded as high as $121.92 and last traded at $120.75. 925,260 shares were traded during trading, a decline of 83% from the average session volume of 5,527,791 shares. The stock had previously closed at $120.46.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.07.

RTX Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $128.65 and a 200-day simple moving average of $123.40. The firm has a market cap of $169.09 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal 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 paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.15% of the stock is owned by company insiders.

Institutional Trading of RTX

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 10Elms LLP purchased a new position in RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new position in RTX in the fourth quarter valued at approximately $34,000. Finally, Modus Advisors LLC purchased a new stake in RTX in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.