RTX Co. (NYSE:RTX) Plans $0.63 Quarterly Dividend

RTX Co. (NYSE:RTX) announced a quarterly dividend on Wednesday, October 9th, RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%.

RTX has raised its dividend by an average of 2.4% per year over the last three years. RTX has a dividend payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RTX to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 41.4%.

RTX Trading Down 0.8 %

Shares of NYSE RTX opened at $122.94 on Friday. RTX has a 1 year low of $72.29 and a 1 year high of $125.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a 50-day moving average of $119.71 and a 200 day moving average of $109.20. The stock has a market cap of $163.54 billion, a P/E ratio of 71.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. As a group, sell-side analysts expect that RTX will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the 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 sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 in the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. 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, July 29th. Finally, Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.50.

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.