RTX Co. (NYSE:RTX) to Issue $0.63 Quarterly Dividend

RTX Co. (NYSE:RTX) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%.

RTX has increased its dividend by an average of 2.4% per year over the last three years. RTX has a payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.43 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 39.2%.

RTX Trading Up 0.4 %

Shares of RTX stock traded up $0.45 during trading hours on Wednesday, hitting $123.95. 3,209,004 shares of the company were exchanged, compared to its average volume of 6,913,510. The firm has a fifty day moving average of $119.45 and a 200 day moving average of $109.00. The firm has a market cap of $164.88 billion, a PE ratio of 48.42, a PEG ratio of 2.20 and a beta of 0.82. RTX has a 1 year low of $72.29 and a 1 year high of $125.93. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the company earned $1.29 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that RTX will post 5.45 earnings per share for the current year.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on 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. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $161.13.

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.