RTX (NYSE:RTX) Sets New 12-Month High Following Earnings Beat

RTX Co. (NYSE:RTX)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $128.70 and last traded at $127.25, with a volume of 403606 shares traded. The stock had previously closed at $125.90.

The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year.

RTX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Melius Research increased their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.56.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

Several institutional investors have recently made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC grew its stake in RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after buying an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the period. Cetera Investment Advisers raised its position in shares of RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after buying an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. bought a new stake in shares of RTX during the 2nd quarter worth approximately $602,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

The company’s 50-day moving average is $121.27 and its 200-day moving average is $110.91. The firm has a market cap of $169.22 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

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.