RTX (NYSE:RTX) Hits New 52-Week High - Here's What Happened

Key Points

• RTX Corporation's share price reached a new 52-week high of $161.40 during trading, with the last traded price at $160.72, indicating strong market performance.
• Analysts have varied opinions on RTX, with some raising price targets significantly; Susquehanna increased their target from $160 to $175, while Wall Street Zen downgraded from "buy" to "hold".
• The company reported earnings per share of $1.56 for the last quarter, exceeding expectations and reflecting a year-over-year revenue increase of 9.4% to $21.58 billion.

RTX Corporation (NYSE:RTX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $161.40 and last traded at $160.72, with a volume of 380053 shares changing hands. The stock had previously closed at $159.43.

Analysts Set New Price Targets

RTX has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Susquehanna upped their target price on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein increased their price objective on shares of RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.87.

RTX Stock Up 0.6%

The stock has a market capitalization of $214.59 billion, a P/E ratio of 35.23, a PEG ratio of 2.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock's fifty day moving average is $156.07 and its two-hundred day moving average is $141.92.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping 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 analysts' expectations of $20.68 billion. During the same period last year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX 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 completion of the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of RTX by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company's stock worth $17,825,353,000 after purchasing an additional 2,238,247 shares during the period. State Street Corp boosted its position in shares of RTX by 0.5% during the 2nd quarter. State Street Corp now owns 112,706,833 shares of the company's stock valued at $16,457,452,000 after acquiring an additional 552,009 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 4.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,599,190 shares of the company's stock valued at $3,007,894,000 after acquiring an additional 837,268 shares in the last quarter. Norges Bank acquired a new stake in shares of RTX during the 2nd quarter valued at about $2,359,602,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of RTX by 9.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company's stock valued at $2,330,215,000 after acquiring an additional 1,361,071 shares in the last quarter. 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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