RTX (NYSE:RTX) Shares Up 1.4% – Here’s What Happened

RTX Co. (NYSE:RTX) shares shot up 1.4% on Tuesday . The company traded as high as $125.33 and last traded at $124.13. 1,492,900 shares traded hands during trading, a decline of 68% from the average session volume of 4,693,792 shares. The stock had previously closed at $122.41.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group boosted their price target on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Bank of America boosted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

The company has a market cap of $164.54 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The business’s 50 day moving average price is $121.03 and its 200-day moving average price is $120.77. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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 transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. increased its stake 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 buying an additional 79 shares in the last quarter. Fusion Capital LLC increased its position in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc boosted its holdings in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after buying an additional 80 shares during the last quarter. New England Professional Planning Group Inc. boosted its holdings in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after buying an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC lifted its holdings in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

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.