RTX (NYSE:RTX) Trading 0.8% Higher – Time to Buy?

RTX Co. (NYSE:RTX)’s stock price traded up 0.8% during trading on Thursday . The company traded as high as $129.55 and last traded at $129.01. 599,376 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,560,990 shares. The stock had previously closed at $127.96.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research 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 research report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

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 stock’s 50 day simple moving average is $125.33 and its two-hundred day simple moving average is $122.14. The stock has a market cap of $173.56 billion, a price-to-earnings ratio of 36.62, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted 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%. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Empower Advisory Group LLC lifted its position in RTX by 31.9% during the 3rd quarter. Empower Advisory Group LLC now owns 5,968 shares of the company’s stock worth $723,000 after buying an additional 1,442 shares in the last quarter. Plato Investment Management Ltd raised its holdings in RTX by 45.2% during the 3rd quarter. Plato Investment Management Ltd now owns 11,463 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,567 shares during the last quarter. KBC Group NV raised its holdings in RTX by 5.4% during the 3rd quarter. KBC Group NV now owns 105,297 shares of the company’s stock worth $12,758,000 after purchasing an additional 5,374 shares during the last quarter. Curi RMB Capital LLC raised its holdings in RTX by 2.2% during the 3rd quarter. Curi RMB Capital LLC now owns 100,682 shares of the company’s stock worth $12,199,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Lifeworks Advisors LLC bought a new stake in RTX during the 3rd quarter worth about $358,000. 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.