RTX Corporation to Issue Quarterly Dividend of $0.68 (NYSE:RTX)

RTX Corporation (NYSE:RTX - Get Free Report) declared a quarterly dividend on Friday, June 27th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.68 per share on Thursday, September 4th. This represents a $2.72 annualized dividend and a dividend yield of 1.88%.

RTX has a payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RTX to earn $6.84 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 39.8%.

RTX Price Performance

Shares of NYSE RTX traded up $1.97 during midday trading on Friday, reaching $144.64. 9,171,602 shares of the company were exchanged, compared to its average volume of 5,405,836. RTX has a one year low of $99.07 and a one year high of $149.26. The stock's 50-day moving average price is $134.55 and its 200-day moving average price is $128.11. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market cap of $193.23 billion, a P/E ratio of 42.42, a PEG ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, sell-side analysts anticipate that RTX will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

A hedge fund recently raised its stake in RTX stock. Brighton Jones LLC grew its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,018 shares of the company's stock after purchasing an additional 3,332 shares during the period. Brighton Jones LLC's holdings in RTX were worth $1,969,000 as of its most recent SEC filing. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RTX shares. JPMorgan Chase & Co. cut their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Citigroup decreased their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

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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