RTX Co. (RTX) to Issue Quarterly Dividend of $0.63 on June 13th

RTX Co. (NYSE:RTX) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.63 per share on Thursday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59.

RTX has raised its dividend by an average of 2.4% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. RTX has a dividend payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RTX to earn $6.15 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 38.4%.

RTX Trading Down 0.5 %

NYSE RTX opened at $101.39 on Friday. The stock has a 50-day simple moving average of $96.48 and a 200 day simple moving average of $88.30. The company has a market capitalization of $134.80 billion, a PE ratio of 39.76, a P/E/G 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 has a 12 month low of $68.56 and a 12 month high of $103.89.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that RTX will post 5.4 EPS for the current year.

Insider Buying and Selling at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders have sold 137,842 shares of company stock worth $13,603,426 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. UBS Group boosted their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $96.93.

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.