RTX (NYSE:RTX) Shares Up 1.8% – What’s Next?

RTX Co. (NYSE:RTX)’s stock price traded up 1.8% on Wednesday . The stock traded as high as $126.15 and last traded at $125.94. 997,476 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 4,697,293 shares. The stock had previously closed at $123.76.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Bank of America boosted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Morgan Stanley increased their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, 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 research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Performance

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 stock has a 50 day simple moving average of $121.03 and a two-hundred day simple moving average of $120.77. The company has a market cap of $165.89 billion, a PE ratio of 35.17, a PEG ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Hedge funds have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the third quarter valued at $29,000. 10Elms LLP acquired a new stake in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new stake in RTX in the fourth quarter valued at $34,000. 86.50% of the stock is owned by institutional investors and hedge funds.

About RTX

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.