RTX (NYSE:RTX) Sets New 52-Week High – Time to Buy?

Shares of RTX Co. (NYSE:RTX) reached a new 52-week high on Tuesday . The company traded as high as $126.82 and last traded at $125.26, with a volume of 215190 shares. The stock had previously closed at $124.64.

Analysts Set New Price Targets

Several brokerages have issued reports on RTX. JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Susquehanna lifted their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $162.50.

RTX Trading Up 0.9 %

The company has a market capitalization of $167.88 billion, a price-to-earnings ratio of 72.95, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The firm has a fifty day moving average price of $120.50 and a 200-day moving average price of $110.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.00%. RTX’s dividend payout ratio is currently 145.67%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RTX. Ellsworth Advisors LLC grew its position in RTX by 2.5% during the 3rd quarter. Ellsworth Advisors LLC now owns 17,113 shares of the company’s stock worth $2,073,000 after acquiring an additional 415 shares during the last quarter. Drake & Associates LLC acquired a new position in shares of RTX in the third quarter valued at approximately $251,000. Bleakley Financial Group LLC boosted its position in RTX by 0.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 40,194 shares of the company’s stock worth $4,870,000 after buying an additional 133 shares during the period. Global Retirement Partners LLC grew its holdings in RTX by 0.8% during the 3rd quarter. Global Retirement Partners LLC now owns 20,592 shares of the company’s stock worth $2,495,000 after acquiring an additional 161 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its position in RTX by 13.2% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 16,086 shares of the company’s stock valued at $1,949,000 after acquiring an additional 1,876 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.