RTX (NYSE:RTX) Shares Up 1.7% – Here’s What Happened

RTX Co. (NYSE:RTX) shares traded up 1.7% during mid-day trading on Monday . The company traded as high as $126.23 and last traded at $125.42. 889,255 shares were traded during trading, a decline of 81% from the average session volume of 4,663,717 shares. The stock had previously closed at $123.29.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $142.00 to $147.00 in a research report on Monday. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Morgan Stanley lifted their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Performance

The company’s 50 day simple moving average is $121.49 and its 200 day simple moving average is $120.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market cap of $167.05 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its 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%. On average, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was 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 in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of RTX in the fourth quarter valued at approximately $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its position in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi boosted its stake in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. increased its position in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC acquired a new position in shares of RTX during the fourth quarter worth approximately $216,340,000. Institutional investors own 86.50% of the company’s stock.

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.