RTX (NYSE:RTX) Reaches New 1-Year High at $103.95

Shares of RTX Co. (NYSE:RTX) reached a new 52-week high on Wednesday . The stock traded as high as $103.95 and last traded at $103.93, with a volume of 2058903 shares. The stock had previously closed at $103.23.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Royal Bank of Canada raised their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Barclays upped their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $96.93.

RTX Stock Performance

The business’s 50 day moving average is $97.20 and its 200 day moving average is $89.11. The stock has a market capitalization of $138.28 billion, a PE ratio of 40.48, a PEG ratio of 1.83 and a beta of 0.84. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm posted $1.22 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.42%. RTX’s payout ratio is presently 92.55%.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 135,618 shares of company stock worth $13,397,978 over the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors raised its holdings in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares in the last quarter. Norges Bank acquired a new position in shares of RTX during the 4th quarter worth about $690,154,000. Massachusetts Financial Services Co. MA increased its stake in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of RTX during the third quarter worth about $355,350,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.