RTX Co. (NYSE:RTX) to Issue $0.63 Quarterly Dividend

RTX Co. (NYSE:RTX) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 21st will be paid a dividend of 0.63 per share on Thursday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st.

RTX has increased its dividend by an average of 7.3% annually over the last three years. RTX has a dividend payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect RTX to earn $6.84 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 36.8%.

RTX Stock Performance

Shares of RTX stock opened at $123.52 on Wednesday. The company’s 50 day moving average price is $121.03 and its two-hundred day moving average price is $120.77. The firm has a market capitalization of $164.54 billion, a P/E ratio of 34.79, a P/E/G ratio of 2.06 and a beta of 0.82. RTX has a fifty-two week low of $88.90 and a fifty-two 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.

RTX (NYSE:RTX) last released its quarterly earnings data 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, equities analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’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 transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RTX shares. Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted 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. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

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.