RTX (NYSE:RTX) Trading 0.4% Higher

Shares of RTX Co. (NYSE:RTX) rose 0.4% on Friday . The company traded as high as $118.60 and last traded at $118.53. Approximately 559,179 shares traded hands during trading, a decline of 92% from the average daily volume of 7,197,915 shares. The stock had previously closed at $118.02.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. TD Cowen boosted their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $153.47.

RTX Stock Performance

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 cap of $157.57 billion, a P/E ratio of 46.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The firm’s fifty day moving average price is $108.59 and its 200 day moving average price is $102.17.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for 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%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. Sell-side analysts expect that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly 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 can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of large investors have recently modified their holdings of the business. PVG Asset Management Corp purchased a new stake in RTX during the 2nd quarter worth approximately $266,000. Granite Bay Wealth Management LLC lifted its stake in shares of RTX by 4,270.1% during the second quarter. Granite Bay Wealth Management LLC now owns 127,652 shares of the company’s stock worth $13,141,000 after buying an additional 124,731 shares during the period. IMS Capital Management purchased a new stake in shares of RTX during the second quarter valued at $184,000. Pathway Financial Advisers LLC increased its position in shares of RTX by 1.5% in the 2nd quarter. Pathway Financial Advisers LLC now owns 25,585 shares of the company’s stock valued at $2,561,000 after acquiring an additional 380 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in RTX by 3.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 547,373 shares of the company’s stock worth $54,951,000 after acquiring an additional 19,488 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.