RTX Co. (NYSE:RTX) Plans $0.63 Quarterly Dividend

RTX Co. (NYSE:RTX) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 21st will be given a dividend of 0.63 per share on Thursday, March 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, February 21st.

RTX has raised its dividend by an average of 7.3% per year over the last three years. RTX has a payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $6.79 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 37.1%.

RTX Trading Up 0.8 %

NYSE:RTX traded up $1.08 on Monday, reaching $130.03. The stock had a trading volume of 3,533,905 shares, compared to its average volume of 4,610,585. The company has a market cap of $173.07 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 2.17 and a beta of 0.81. RTX has a 12-month low of $88.90 and a 12-month high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm’s fifty day moving average is $119.14 and its two-hundred day moving average is $119.40.

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 net margin of 5.91% and a return on equity of 12.45%. Equities analysts expect that RTX will post 6.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RTX shares. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group boosted their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.07.

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.