RTX Corporation (NYSE:RTX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• RTX Corporation has received a consensus rating of "Moderate Buy" from 21 brokerages, with an average target price of $158.67.
• The company reported earnings per share of $1.56 for the last quarter, exceeding the consensus estimate by $0.11 and showing a 9.4% increase in revenue year-over-year.
• RTX has announced a quarterly dividend of $0.68, representing an annualized dividend yield of 1.8%.

Shares of RTX Corporation (NYSE:RTX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $158.6667.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price target on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st.

RTX Trading Down 0.7%

NYSE:RTX opened at $154.04 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX has a 12 month low of $112.27 and a 12 month high of $158.79. The company has a market cap of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The company has a 50 day simple moving average of $149.54 and a two-hundred day simple moving average of $136.47.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts forecast that RTX will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio is presently 59.78%.

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,589 shares of company stock valued at $7,126,389. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the first quarter worth approximately $26,000. PFS Partners LLC lifted its position in shares of RTX by 101.1% in the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter worth approximately $29,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of RTX in the second quarter worth approximately $29,000. Finally, Access Investment Management LLC purchased a new stake in shares of RTX in the second quarter worth approximately $31,000. Institutional investors own 86.50% 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.

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