RTX (NYSE:RTX) Sets New 1-Year High – Time to Buy?

RTX Co. (NYSE:RTX)’s stock price hit a new 52-week high on Monday . The company traded as high as $125.68 and last traded at $125.35, with a volume of 774404 shares traded. The stock had previously closed at $124.91.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Susquehanna lifted their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.13.

RTX Stock Performance

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 firm has a 50 day moving average price of $119.45 and a 200 day moving average price of $109.00. The stock has a market cap of $164.84 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 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 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 posted $1.29 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. RTX’s dividend payout ratio is presently 98.82%.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 directly owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated 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 in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 in the last three months. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

A number of large investors have recently bought and sold shares of RTX. Capital Research Global Investors boosted its stake in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors grew its stake in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Marshall Wace LLP increased its holdings in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the period. Finally, Groupama Asset Managment acquired a new stake in RTX during the fourth quarter valued at $42,506,000. 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.