RTX (NYSE:RTX) Trading Up 0.9%

RTX Co. (NYSE:RTX)’s stock price shot up 0.9% during trading on Monday . The stock traded as high as $119.73 and last traded at $119.60. 490,972 shares were traded during trading, a decline of 93% from the average session volume of 7,174,509 shares. The stock had previously closed at $118.52.

Analysts Set New Price Targets

A number of research firms recently weighed in on RTX. Susquehanna upped their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $153.47.

RTX Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $109.17 and a 200-day moving average price of $102.71. The stock has a market capitalization of $160.66 billion, a PE ratio of 47.39, a PEG ratio of 2.08 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 for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 EPS. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently modified their holdings of the company. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the 2nd quarter worth $32,000. Fairman Group LLC purchased a new position in shares of RTX in the 4th quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after buying an additional 139 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.