RTX (NYSE:RTX) Reaches New 52-Week High at $123.71

RTX Co. (NYSE:RTX) reached a new 52-week high during trading on Tuesday . The company traded as high as $123.71 and last traded at $123.46, with a volume of 1355938 shares. The stock had previously closed at $121.16.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, TD Cowen increased their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.31.

RTX Price Performance

The stock has a market capitalization of $164.92 billion, a P/E ratio of 47.51, a PEG ratio of 2.12 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $117.91 and a 200-day moving average of $107.74.

RTX (NYSE:RTX) last announced its 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. RTX’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several hedge funds have recently added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new position in RTX during the 2nd quarter worth about $1,257,000. Clifford Capital Partners LLC raised its position in shares of RTX by 21.4% in the second quarter. Clifford Capital Partners LLC now owns 161,823 shares of the company’s stock valued at $16,245,000 after buying an additional 28,505 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of RTX by 6.4% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,662 shares of the company’s stock valued at $267,000 after buying an additional 159 shares in the last quarter. SS&H Financial Advisors Inc. boosted its stake in RTX by 47.3% in the second quarter. SS&H Financial Advisors Inc. now owns 5,669 shares of the company’s stock valued at $569,000 after buying an additional 1,820 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of RTX during the 2nd quarter valued at $1,191,000. 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.