RTX (NYSE:RTX) Reaches New 52-Week High at $103.95

RTX Co. (NYSE:RTX - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $103.95 and last traded at $103.93, with a volume of 2058903 shares traded. The stock had previously closed at $103.23.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RTX shares. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, March 19th. Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 30th. Susquehanna raised their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of "Hold" and a consensus price target of $96.93.

RTX Stock Up 0.8 %

The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $97.20 and a 200-day moving average of $89.11. The stock has a market cap of $138.28 billion, a PE ratio of 40.48, a P/E/G ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the firm posted $1.22 EPS. RTX's revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. This is an increase from RTX's previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.42%. RTX's payout ratio is presently 92.55%.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company's stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company's stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last three months, insiders sold 135,618 shares of company stock worth $13,397,978. Insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new position in shares of RTX in the 4th quarter worth $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX during the 4th quarter valued at $30,000. Strengthening Families & Communities LLC purchased a new position in RTX in the third quarter valued at about $28,000. Alaska Permanent Fund Corp acquired a new stake in shares of RTX during the 1st quarter valued at about $42,000. Finally, Financial Gravity Asset Management Inc. grew its position in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company's stock worth $32,000 after acquiring an additional 345 shares in the last quarter. 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.

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