RTX (NYSE:RTX) Stock Price Up 0.2% – Time to Buy?

RTX Co. (NYSE:RTX)’s stock price traded up 0.2% on Tuesday . The company traded as high as $118.50 and last traded at $118.18. 1,491,809 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 6,681,454 shares. The stock had previously closed at $118.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

The firm has a fifty day moving average price of $122.13 and a 200 day moving average price of $112.48. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market cap of $159.83 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. As a group, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.10%. RTX’s dividend payout ratio is currently 72.00%.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of RTX. Cassaday & Co Wealth Management LLC raised its stake in shares of RTX by 0.9% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 10,230 shares of the company’s stock valued at $1,239,000 after acquiring an additional 96 shares during the period. Capital City Trust Co. FL raised its position in RTX by 3.5% in the third quarter. Capital City Trust Co. FL now owns 9,327 shares of the company’s stock valued at $1,130,000 after purchasing an additional 315 shares during the period. Taurus Asset Management LLC lifted its stake in RTX by 9.4% during the third quarter. Taurus Asset Management LLC now owns 4,344 shares of the company’s stock worth $526,000 after purchasing an additional 375 shares in the last quarter. Quest Partners LLC boosted its position in shares of RTX by 8,216.2% during the third quarter. Quest Partners LLC now owns 19,460 shares of the company’s stock worth $2,358,000 after buying an additional 19,226 shares during the period. Finally, Aljian Capital Management LLC raised its holdings in shares of RTX by 31.8% in the 3rd quarter. Aljian Capital Management LLC now owns 21,631 shares of the company’s stock valued at $2,621,000 after buying an additional 5,219 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

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.