RTX (NYSE:RTX) Sets New 52-Week High – Here’s Why

RTX Co. (NYSE:RTX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $135.94 and last traded at $135.84, with a volume of 3989259 shares traded. The stock had previously closed at $134.69.

Analyst Ratings Changes

Several research firms have recently commented on RTX. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley boosted their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Up 0.9 %

The stock has a market cap of $181.36 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.11 and a beta of 0.78. The company’s 50 day moving average price is $127.81 and its two-hundred day moving average price is $122.79. 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 issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now 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 the SEC website. Also, 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 value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $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 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RTX. Fire Capital Management LLC acquired a new position in RTX during the fourth quarter worth $552,000. Prostatis Group LLC lifted its holdings in RTX by 27.3% during the 4th quarter. Prostatis Group LLC now owns 6,238 shares of the company’s stock worth $722,000 after buying an additional 1,338 shares in the last quarter. Chancellor Financial Group WB LP acquired a new stake in shares of RTX in the fourth quarter valued at $286,000. 111 Capital purchased a new position in shares of RTX in the 4th quarter valued at about $1,416,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in RTX by 49.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 985,262 shares of the company’s stock worth $114,014,000 after acquiring an additional 325,667 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.