RTX (NYSE:RTX) Stock Price Up 0.9%

RTX Co. (NYSE:RTX) shares traded up 0.9% on Thursday . The company traded as high as $121.97 and last traded at $121.89. 638,041 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 7,134,223 shares. The stock had previously closed at $120.84.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RTX. The Goldman Sachs Group upped their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. 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 research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $153.47.

RTX Price Performance

The business has a 50-day moving average price of $109.49 and a 200 day moving average price of $102.84. The stock has a market cap of $162.75 billion, a PE ratio of 47.80, a PEG ratio of 2.09 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted 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. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.06%. RTX’s payout ratio is 98.82%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. 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 quarter. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

A number of large investors have recently modified their holdings of the company. Capital Research Global Investors raised its stake in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its stake in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the period. Clearbridge Investments LLC grew its stake in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.