RTX (NYSE:RTX) Trading Up 0.8% – Time to Buy?

Shares of RTX Co. (NYSE:RTX) rose 0.8% during mid-day trading on Monday . The company traded as high as $129.47 and last traded at $129.38. Approximately 901,248 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 5,599,328 shares. The stock had previously closed at $128.40.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent analyst reports. UBS Group raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $147.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley increased their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

The stock has a 50-day moving average of $124.54 and a two-hundred day moving average of $121.97. 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 firm has a market cap of $170.73 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

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