RTX (NYSE:RTX) Stock Price Up 1.6% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) rose 1.6% during mid-day trading on Monday . The company traded as high as $132.69 and last traded at $132.04. Approximately 944,980 shares traded hands during trading, a decline of 82% from the average daily volume of 5,391,133 shares. The stock had previously closed at $129.99.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Up 0.4 %

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 company’s fifty day moving average is $126.04 and its 200-day moving average is $122.30. The firm has a market capitalization of $176.99 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted 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 net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Hedge funds have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the 3rd quarter valued at $29,000. 10Elms LLP acquired a new position in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth about $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Finally, Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth about $34,000. 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.