RTX (NYSE:RTX) Sets New 1-Year High – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $132.43 and last traded at $132.21, with a volume of 403187 shares trading hands. The stock had previously closed at $130.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RTX shares. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Up 1.9 %

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $122.39 and a 200-day moving average price of $121.24. The firm has a market capitalization of $177.19 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts forecast 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 will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,334 shares of company stock worth $4,639,194. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter worth $29,000. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter worth $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management boosted its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the period. Finally, Greenline Partners LLC purchased a new position in shares of RTX during the fourth quarter worth $34,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.