RTX (NYSE:RTX) Stock Price Up 0.9% – What’s Next?

RTX Co. (NYSE:RTX)’s stock price was up 0.9% during mid-day trading on Friday . The company traded as high as $130.57 and last traded at $130.31. Approximately 737,704 shares were traded during trading, a decline of 85% from the average daily volume of 4,911,559 shares. The stock had previously closed at $129.20.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. UBS Group raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Performance

The stock’s 50-day simple moving average is $124.78 and its 200 day simple moving average is $122.01. 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 market capitalization of $173.16 billion, a P/E ratio of 36.61, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released 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 return on equity of 12.45% and a net margin of 5.91%. Research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.94%. RTX’s payout ratio is presently 70.99%.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX 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 transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

A number of large investors have recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth $29,000. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management grew its position in 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 in the last quarter. Finally, Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $34,000. 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.