RTX Corporation (NYSE:RTX) Declares Quarterly Dividend of $0.73

Key Points

• RTX declared a quarterly dividend of $0.73 per share, payable December 10 to shareholders of record on November 20. The dividend represents an annualized $2.92 payment and a 1.5% yield.
• RTX has raised its dividend for five consecutive years, with a 43.6% payout ratio indicating earnings coverage. Analysts expect next year’s payout ratio to fall to approximately 36.5%.
• The company exceeded quarterly earnings and revenue expectations, reporting $2.26 in EPS and $24.96 billion in revenue, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $228.86.

RTX Corporation (NYSE:RTX - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 20th will be given a dividend of $0.73 per share on Thursday, December 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th.

RTX has decreased its dividend payment by an average of 0.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. RTX has a dividend payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $8.00 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 36.5%.

RTX Price Performance

NYSE RTX opened at $199.99 on Friday. The stock has a 50-day simple moving average of $195.06 and a 200 day simple moving average of $195.52. RTX has a twelve month low of $166.74 and a twelve month high of $226.88. The stock has a market capitalization of $269.87 billion, a PE ratio of 32.47, a P/E/G ratio of 2.19 and a beta of 0.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.48. RTX had a return on equity of 14.89% and a net margin of 8.75%. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. During the same quarter last year, the firm posted $1.70 EPS. The company's revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that RTX will post 7.66 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Citigroup restated a "buy" rating on shares of RTX in a research note on Wednesday, October 7th. Morgan Stanley reissued an "overweight" rating and issued a $240.00 price target (up from $220.00) on shares of RTX in a report on Friday, July 24th. Wells Fargo & Company raised their price target on shares of RTX from $200.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Jefferies Financial Group set a $250.00 price objective on shares of RTX and gave the stock a "buy" rating in a report on Sunday, July 26th. Finally, BNP Paribas Exane boosted their price objective on shares of RTX from $220.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $228.86.

About RTX

RTX Corporation NYSE: RTX is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.

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