RTX (NYSE:RTX) Trading Up 1% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) traded up 1% during trading on Monday . The company traded as high as $133.93 and last traded at $133.66. 600,451 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 5,354,784 shares. The stock had previously closed at $132.37.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Bank of America lifted their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Price Performance

The company’s 50-day moving average price is $127.15 and its 200-day moving average price is $122.56. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $178.77 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. On average, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

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

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.