RTX (NYSE:RTX) Trading Up 1.2% – Should You Buy?

RTX Co. (NYSE:RTX)’s stock price rose 1.2% on Wednesday . The stock traded as high as $135.02 and last traded at $134.26. Approximately 763,817 shares were traded during trading, a decline of 86% from the average daily volume of 5,374,079 shares. The stock had previously closed at $132.69.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $147.00 in a report on Monday, February 24th. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The company has a market capitalization of $178.14 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. 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 business has a fifty day moving average price of $126.80 and a 200 day moving average price of $122.47.

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 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%. On average, research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of RTX during the fourth quarter worth approximately $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 during the period. Amundi grew its holdings in shares of 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 acquiring an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in RTX during the fourth quarter valued at $216,340,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.