RTX (NYSE:RTX) Reaches New 52-Week High at $117.96

RTX Co. (NYSE:RTX) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $117.96 and last traded at $116.96, with a volume of 349322 shares. The stock had previously closed at $116.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Royal Bank of Canada upped their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. TD Cowen lifted their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $153.47.

RTX Stock Up 0.5 %

The company’s fifty day simple moving average is $104.88 and its 200-day simple moving average is $98.81. The firm has a market capitalization of $156.29 billion, a PE ratio of 45.84, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.42 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,357 shares of company stock valued at $5,832,340. Insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Veracity Capital LLC grew its holdings in RTX by 4.9% during the fourth quarter. Veracity Capital LLC now owns 4,480 shares of the company’s stock worth $377,000 after acquiring an additional 211 shares during the period. Silverlake Wealth Management LLC increased its holdings in shares of RTX by 3.7% during the 4th quarter. Silverlake Wealth Management LLC now owns 3,661 shares of the company’s stock valued at $308,000 after purchasing an additional 130 shares in the last quarter. SNS Financial Group LLC acquired a new position in shares of RTX in the 4th quarter valued at $202,000. Pinnacle Financial Partners Inc grew its position in RTX by 6.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 25,488 shares of the company’s stock valued at $2,145,000 after buying an additional 1,603 shares during the period. Finally, Drive Wealth Management LLC increased its holdings in RTX by 6.7% in the fourth quarter. Drive Wealth Management LLC now owns 6,072 shares of the company’s stock valued at $511,000 after buying an additional 383 shares in the last quarter. 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.