RTX (NYSE:RTX) Upgraded to “Overweight” at Alembic Global Advisors

Alembic Global Advisors upgraded shares of RTX (NYSE:RTX) from a neutral rating to an overweight rating in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have $134.00 target price on the stock.

Several other research analysts also recently weighed in on RTX. UBS Group boosted their price target on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a neutral rating in a research note on Monday, July 29th. StockNews.com cut shares of RTX from a buy rating to a hold rating in a research note on Friday, July 26th. Finally, Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $153.47.

RTX Trading Down 0.2 %

Shares of RTX stock opened at $116.45 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a 1 year low of $68.56 and a 1 year high of $118.30. The company has a market capitalization of $154.91 billion, a P/E ratio of 45.67, a P/E/G ratio of 2.08 and a beta of 0.82. The business has a 50 day moving average price of $105.54 and a 200 day moving average price of $99.28.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. Sell-side analysts anticipate that RTX will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. RTX’s dividend payout ratio is currently 98.82%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold 198,213 shares of company stock worth $22,963,593 in the last quarter. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Institutional investors and hedge funds have recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new stake in RTX during the fourth quarter worth about $25,000. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the second quarter worth about $32,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in RTX during the fourth quarter worth about $38,000. 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.