RTX (NYSE:RTX) Stock Price Up 0.2% – Here’s Why

Shares of RTX Co. (NYSE:RTX) shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $135.80 and last traded at $134.96. 835,341 shares changed hands during trading, a decline of 84% from the average session volume of 5,370,216 shares. The stock had previously closed at $134.69.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RTX shares. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Four research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 0.7 %

The stock has a 50 day moving average of $128.12 and a 200-day moving average of $122.87. The firm has a market capitalization of $178.14 billion, a P/E ratio of 37.59, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts predict 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 was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s payout ratio is currently 70.99%.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, 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. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by insiders.

Institutional Trading of RTX

Several hedge funds have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. grew its position in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after acquiring an additional 79 shares during the last quarter. Fusion Capital LLC raised its holdings in RTX by 0.5% during 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 last quarter. McDonough Capital Management Inc boosted its position in 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 buying an additional 80 shares during the period. New England Professional Planning Group Inc. grew its holdings in RTX by 3.8% in 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 last quarter. Finally, Pointe Capital Management LLC increased 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 valued at $2,047,000 after acquiring an additional 81 shares during the period. 86.50% of the stock is owned by 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.