RTX Co. (NYSE:RTX) Declares $0.63 Quarterly Dividend

RTX Co. (NYSE:RTX) announced a quarterly dividend on Monday, June 3rd, RTT News reports. Investors of record on Friday, August 16th will be given a dividend of 0.63 per share on Thursday, September 5th. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th.

RTX has raised its dividend payment by an average of 2.4% annually over the last three years. RTX has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $6.43 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 39.2%.

RTX Trading Up 0.2 %

RTX opened at $116.86 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company’s 50-day moving average is $106.80 and its 200 day moving average is $100.82. The firm has a market capitalization of $155.45 billion, a PE ratio of 45.83, a P/E/G ratio of 2.05 and a beta of 0.82. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $118.30.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. As a group, research analysts predict that RTX will post 5.44 earnings per share for the current fiscal year.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Sunday. Susquehanna lifted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $153.47.

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.