RTX (NYSE:RTX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

RTX has been the topic of a number of other reports. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen raised their price target on shares of RTX from $115.00 to $142.00 and gave the stock a buy rating in a research report on Friday, July 26th. Susquehanna lifted their price target on shares of RTX from $119.00 to $140.00 and gave the company a positive rating in a report on Friday, July 26th. UBS Group lifted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Finally, Alembic Global Advisors upgraded shares of RTX from a neutral rating to an overweight rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $153.47.

RTX Trading Down 1.1 %

RTX stock opened at $115.20 on Friday. RTX has a 52 week low of $68.56 and a 52 week high of $118.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $153.24 billion, a price-to-earnings ratio of 45.18, a P/E/G ratio of 2.06 and a beta of 0.82. The company has a 50 day moving average price of $105.71 and a 200 day moving average price of $99.68.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Insider Activity at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,213 shares of company stock worth $22,963,593. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several institutional investors and hedge funds have recently modified their holdings of the company. RFG Advisory LLC increased its holdings in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares during the last quarter. TCW Group Inc. purchased a new position in shares of RTX in the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new stake in shares of RTX in the 4th quarter valued at about $672,000. Mather Group LLC. boosted its position in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares during the period. Finally, AllGen Financial Advisors Inc. boosted its position in shares of RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after purchasing an additional 3,657 shares during the period. Hedge funds and other 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.