RTX (NYSE:RTX) Stock Price Up 2.4% – Should You Buy?

RTX Co. (NYSE:RTX) shares rose 2.4% on Friday . The company traded as high as $123.05 and last traded at $122.98. Approximately 695,540 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 6,687,444 shares. The stock had previously closed at $120.08.

Analyst Ratings Changes

RTX has been the topic of a number of research analyst reports. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Melius Research raised their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Up 2.9 %

The firm has a market cap of $164.45 billion, a PE ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company’s 50-day simple moving average is $122.08 and its two-hundred day simple moving average is $112.77.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. On average, analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio is presently 72.00%.

Institutional Trading of RTX

Large investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC raised its stake in RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of RTX by 36.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after purchasing an additional 97,749 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Institutional investors 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.