RTX (NYSE:RTX) Shares Up 0.5% Following Analyst Upgrade

RTX Co. (NYSE:RTX) shares traded up 0.5% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $136.00 to $144.00. Wells Fargo & Company currently has an overweight rating on the stock. RTX traded as high as $129.95 and last traded at $129.82. 1,443,880 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 5,483,959 shares. The stock had previously closed at $129.14.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average target price of $165.27.

Insider Transactions at RTX

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter valued at $34,000. Finally, Modus Advisors LLC bought a new position in shares of RTX during the 4th quarter valued at $39,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.3 %

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 stock has a market capitalization of $172.86 billion, a PE ratio of 36.49, a P/E/G ratio of 2.11 and a beta of 0.58. The stock has a 50 day moving average price of $128.56 and a 200-day moving average price of $123.68.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. RTX’s dividend payout ratio is currently 70.99%.

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.