RTX (NYSE:RTX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note released on Monday morning.

RTX has been the topic of a number of other research reports. Wells Fargo & Company upped their price objective on RTX from $119.00 to $141.00 and gave the stock an overweight rating in a research note on Friday, May 17th. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the company a neutral rating in a research note on Monday, April 8th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Finally, Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the stock a positive rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $98.33.

RTX Stock Performance

Shares of RTX opened at $104.98 on Monday. The stock has a market capitalization of $139.57 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 1.81 and a beta of 0.82. RTX has a 12 month low of $68.56 and a 12 month high of $108.65. The firm has a fifty day simple moving average of $104.26 and a 200 day simple moving average of $97.26. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS. Research analysts forecast that RTX will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Activity

In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RFG Advisory LLC lifted its stake in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares during the last quarter. TCW Group Inc. acquired a new stake in shares of RTX during the fourth quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in shares of RTX during the fourth quarter worth about $672,000. Mather Group LLC. increased its stake in shares of RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after buying an additional 1,079 shares during the period. Finally, Rockline Wealth Management LLC bought a new position in RTX in the 4th quarter valued at approximately $2,438,000. Institutional investors own 86.50% of the company’s stock.

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.