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

RTX Co. (NYSE:RTX)’s stock price shot up 0.1% on Wednesday . The company traded as high as $129.97 and last traded at $128.88. 1,300,033 shares traded hands during trading, a decline of 77% from the average session volume of 5,609,123 shares. The stock had previously closed at $128.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Five equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Trading Up 1.3 %

The business’s 50-day simple moving average is $123.30 and its 200-day simple moving average is $121.59. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $173.60 billion, a PE ratio of 36.71, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate 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 expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Probity Advisors Inc. acquired a new stake in RTX during the 4th quarter worth $211,000. BridgePort Financial Solutions LLC acquired a new stake in shares of RTX during the fourth quarter worth $1,395,000. Total Wealth Planning & Management Inc. bought a new stake in RTX in the fourth quarter valued at about $367,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in RTX in the fourth quarter valued at about $57,616,000. Finally, Brooklyn FI LLC acquired a new position in RTX in the fourth quarter valued at about $533,000. Institutional investors and hedge funds 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.