RTX (NYSE:RTX) Trading Up 2.4% – Here’s What Happened

RTX Co. (NYSE:RTX)’s stock price was up 2.4% on Thursday . The stock traded as high as $130.70 and last traded at $130.41. Approximately 1,379,459 shares traded hands during trading, a decline of 71% from the average daily volume of 4,685,962 shares. The stock had previously closed at $127.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Trading Up 2.5 %

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $122.09 and its 200-day moving average price is $121.17. The firm has a market cap of $173.83 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. Equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % 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 business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. grew its holdings in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC increased its position in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc raised its stake in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after acquiring an additional 80 shares during the period. New England Professional Planning Group Inc. boosted its position in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC increased its holdings in RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.