RTX (NYSE:RTX) Trading 1.2% Higher – Here’s What Happened

RTX Co. (NYSE:RTX) shot up 1.2% during mid-day trading on Wednesday . The company traded as high as $135.02 and last traded at $134.26. 763,817 shares changed hands during trading, a decline of 86% from the average session volume of 5,374,079 shares. The stock had previously closed at $132.69.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $136.00 to $160.00 in a research report on Wednesday. Morgan Stanley lifted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Trading Down 0.8 %

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 cap of $178.14 billion, a PE ratio of 37.59, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a fifty day simple moving average of $126.80 and a two-hundred day simple moving average of $122.47.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. Analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. grew 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 purchasing an additional 79 shares during the period. Fusion Capital LLC grew 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 buying an additional 80 shares during the period. McDonough Capital Management Inc increased its stake in shares of RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. lifted 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 acquiring an additional 81 shares during the period. Finally, Pointe Capital Management LLC boosted its position in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after acquiring an additional 81 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.