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

RTX Co. (NYSE:RTX) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 21st will be given a dividend of 0.63 per share on Thursday, March 20th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 21st.

RTX has increased its dividend payment by an average of 7.3% per year over the last three years. RTX has a payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.79 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 37.1%.

RTX Trading Up 0.8 %

NYSE RTX opened at $130.03 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm’s fifty day moving average price is $119.37 and its 200 day moving average price is $119.59. The company has a market capitalization of $173.07 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX has a 12 month low of $88.90 and a 12 month high of $132.43.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts expect that RTX will post 6.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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.