RTX (NYSE:RTX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

RTX stock opened at $128.80 on Thursday. RTX has a 52-week low of $88.90 and a 52-week high of $132.43. 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 stock has a fifty day moving average price of $119.87 and a two-hundred day moving average price of $119.90. The firm has a market capitalization of $171.43 billion, a P/E ratio of 36.28, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. As a group, analysts anticipate that RTX will post 6.12 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. 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 value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Several hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings 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 acquiring an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $216,340,000. International Assets Investment Management LLC increased its stake in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in RTX by 19,052.5% in the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock valued at $120,724,000 after buying an additional 1,037,792 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after buying an additional 993,273 shares during the period. Institutional investors and hedge funds 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.