RTX (NYSE:RTX) Trading 0.2% Higher – What’s Next?

RTX Co. (NYSE:RTX)’s share price was up 0.2% on Monday . The stock traded as high as $132.12 and last traded at $131.99. Approximately 981,709 shares traded hands during trading, a decline of 83% from the average daily volume of 5,630,104 shares. The stock had previously closed at $131.72.

Analyst Ratings Changes

Several research analysts have issued reports on RTX shares. 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 research note on Wednesday, March 19th. Wells Fargo & Company increased their price target 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 upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Up 0.4 %

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 company has a market cap of $176.52 billion, a P/E ratio of 37.26, a PEG ratio of 2.11 and a beta of 0.78. The firm’s 50-day simple moving average is $128.59 and its 200 day simple moving average is $123.06.

RTX (NYSE:RTX) last released its 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 return on equity of 12.45% and a net margin of 5.91%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

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 completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was 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 directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Norges Bank acquired a new position in shares of RTX during the fourth quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 in the last quarter. Amundi raised its holdings in shares of 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. lifted its position in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in RTX during the fourth quarter worth $216,340,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.