RTX (NYSE:RTX) Reaches New 52-Week High at $103.89

RTX Co. (NYSE:RTX)’s share price reached a new 52-week high on Tuesday . The company traded as high as $103.89 and last traded at $102.87, with a volume of 2064734 shares traded. The stock had previously closed at $101.56.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Finally, Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $93.40.

RTX Trading Up 0.3 %

The business’s fifty day moving average is $94.76 and its 200-day moving average is $86.89. The stock has a market capitalization of $135.46 billion, a PE ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. RTX’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.32%. RTX’s dividend payout ratio is currently 105.36%.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s 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 directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 completion of 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 sold a total of 37,785 shares of company stock worth $3,448,188 over the last ninety days. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Several institutional investors have recently modified their holdings of RTX. Cary Street Partners Investment Advisory LLC lifted its position in shares of RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the period. Rockline Wealth Management LLC acquired a new stake in RTX during the fourth quarter worth approximately $2,438,000. B&D White Capital Company LLC acquired a new stake in RTX during the third quarter worth approximately $14,186,000. Cullen Investment Group LTD. acquired a new stake in RTX in the fourth quarter valued at approximately $843,000. Finally, Hurlow Wealth Management Group Inc. acquired a new stake in RTX in the fourth quarter valued at approximately $206,000. Institutional investors own 86.50% of the company’s stock.

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.