RTX (NYSE:RTX) Hits New 1-Year High – What’s Next?

RTX Co. (NYSE:RTX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $135.74 and last traded at $135.47, with a volume of 7079133 shares traded. The stock had previously closed at $132.69.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $180.86 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business’s 50-day simple moving average is $126.43 and its two-hundred day simple moving average is $122.39.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

Several large investors have recently added to or reduced their stakes in RTX. CX Institutional grew its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares during the period. National Pension Service grew its holdings in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares during the period. LRI Investments LLC increased its stake in RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Czech National Bank boosted its position in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its stake in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares during the period. Institutional investors and hedge funds 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.