RTX (NYSE:RTX) Stock Price Up 0.1% – Here’s Why

RTX Co. (NYSE:RTX) shares were up 0.1% during mid-day trading on Tuesday . The company traded as high as $132.91 and last traded at $132.64. Approximately 903,369 shares changed hands during trading, a decline of 82% from the average daily volume of 4,977,540 shares. The stock had previously closed at $132.46.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RTX. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley upped their target price 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. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Trading Down 0.4 %

The firm has a market capitalization of $176.20 billion, a PE ratio of 37.20, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a fifty day moving average of $128.82 and a 200 day moving average of $123.15. 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 announced its earnings results 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%. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

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

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC boosted its position in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. raised its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares during the period. Finally, Norges Bank purchased a new stake in RTX during the fourth quarter valued at about $1,745,644,000. 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.