RTX (NYSE:RTX) Reaches New 12-Month High After Analyst Upgrade

RTX Corporation (NYSE:RTX - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $148.00 to $182.00. Citigroup currently has a buy rating on the stock. RTX traded as high as $149.41 and last traded at $148.62, with a volume of 860600 shares changing hands. The stock had previously closed at $146.87.

A number of other research analysts have also weighed in on the company. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average price target of $162.61.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated 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 owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Institutional Trading of RTX

Institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its stake in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after buying an additional 159 shares in the last quarter. Proficio Capital Partners LLC raised its stake in RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock worth $1,043,000 after buying an additional 3,568 shares in the last quarter. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in RTX by 0.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 81,470 shares of the company's stock worth $9,428,000 after buying an additional 664 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.0%

The company has a market cap of $200.66 billion, a P/E ratio of 44.05, a P/E/G ratio of 2.76 and a beta of 0.64. 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 business's 50 day moving average is $140.44 and its 200 day moving average is $130.98.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.81%. RTX's payout ratio is presently 79.77%.

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.