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

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

Analyst Ratings Changes

Several research firms have weighed in on RTX. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, UBS Group raised their target price on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.40.

RTX Price Performance

The stock’s 50-day simple moving average is $94.76 and its two-hundred day simple moving average is $86.89. The company has a market capitalization of $135.46 billion, a price-to-earnings ratio of 45.35, a PEG 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 issued its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. Equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’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 value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’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 sale, the insider now 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 can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly 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 valued at $3,448,188 over the last 90 days. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX during the 3rd quarter worth about $28,000. Planned Solutions Inc. purchased a new position in shares of RTX during the 4th quarter worth about $30,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds 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.