RTX Co. (NYSE:RTX) Plans Dividend Increase - $0.63 Per Share

RTX Co. (NYSE:RTX - Get Free Report) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.63 per share on Thursday, June 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from RTX's previous quarterly dividend of $0.59.

RTX has increased its dividend payment by an average of 2.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. RTX has a payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $6.15 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 38.4%.

RTX Price Performance

Shares of NYSE:RTX traded up $0.67 during trading on Thursday, reaching $101.89. 6,083,809 shares of the company's stock traded hands, compared to its average volume of 8,104,970. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market cap of $135.46 billion, a PE ratio of 39.96, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a 50-day simple moving average of $96.23 and a 200-day simple moving average of $88.21.

RTX (NYSE:RTX - Get Free Report) last posted 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. The company had revenue of $19.30 billion for the quarter, compared to analysts' expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. As a group, analysts predict that RTX will post 5.4 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on RTX. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, April 24th. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the company a "positive" rating in a research note on Wednesday, April 24th. TheStreet raised shares of RTX from a "c" rating to a "b-" rating in a report on Tuesday, January 23rd. Finally, Bank of America upped their target price on shares of RTX from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of "Hold" and an average price target of $96.93.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the firm's stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm'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 transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,842 shares of company stock valued at $13,603,426. Corporate insiders own 0.13% of the company's stock.

RTX Company Profile

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.