RTX (NYSE:RTX) Trading 2.4% Higher – Should You Buy?

RTX Co. (NYSE:RTX) traded up 2.4% during mid-day trading on Thursday . The company traded as high as $130.70 and last traded at $130.41. 1,379,459 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,685,962 shares. The stock had previously closed at $127.31.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 1.9 %

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 company’s 50-day simple moving average is $122.72 and its 200 day simple moving average is $121.35. The firm has a market cap of $177.19 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released 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%. Research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,334 shares of company stock worth $4,639,194. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Norges Bank bought a new stake in RTX during the 4th quarter valued at about $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its holdings in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after buying an additional 3,164,844 shares in the last quarter. Amundi increased its position in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. increased its position in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC purchased a new position in RTX during the 4th quarter valued at about $216,340,000. Institutional investors own 86.50% of the company’s stock.

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.