RTX (NYSE:RTX) Trading Up 1.8% – Time to Buy?

RTX Co. (NYSE:RTX)’s stock price was up 1.8% on Wednesday . The company traded as high as $126.15 and last traded at $125.94. Approximately 997,476 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 4,697,293 shares. The stock had previously closed at $123.76.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Up 0.6 %

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $165.89 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 2.06 and a beta of 0.82. The company has a fifty day moving average of $121.03 and a 200-day moving average of $120.77.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on 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 sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new stake in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.