RTX Co. Announces Quarterly Dividend of $0.63 (NYSE:RTX)

RTX Co. (NYSE:RTX) announced a quarterly dividend on Wednesday, October 9th,RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th.

RTX has raised its dividend by an average of 2.4% annually over the last three years. RTX has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RTX to earn $6.07 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 41.5%.

RTX Stock Up 0.3 %

RTX opened at $123.75 on Thursday. RTX has a one year low of $78.00 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s fifty day moving average is $122.21 and its 200-day moving average is $113.24. The company has a market capitalization of $164.71 billion, a PE ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that RTX will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RTX has been the topic of several research reports. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $177.27.

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.