RTX (NYSE:RTX) Sets New 12-Month High – Here’s What Happened

RTX Co. (NYSE:RTX) reached a new 52-week high during trading on Tuesday . The company traded as high as $126.82 and last traded at $125.26, with a volume of 215190 shares trading hands. The stock had previously closed at $124.64.

Analyst Ratings Changes

Several brokerages have recently weighed in on RTX. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.50.

RTX Trading Up 0.9 %

The business has a 50 day moving average of $120.50 and a two-hundred day moving average of $110.07. The firm has a market capitalization of $167.88 billion, a price-to-earnings ratio of 72.95, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its earnings results 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period last year, the business earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio is presently 145.67%.

Insider Buying and Selling at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RTX. Elgethun Capital Management lifted its position in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the period. Lazari Capital Management Inc. boosted its position in RTX by 1.6% in the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after purchasing an additional 95 shares during the last quarter. Fermata Advisors LLC grew its stake in RTX by 4.3% in the 3rd quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock valued at $280,000 after purchasing an additional 96 shares during the period. Finally, Motco increased its position in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.