RTX (NYSE:RTX) Reaches New 12-Month High - Here's What Happened

Key Points

• RTX shares reached a new 52-week high of $157.33 during trading, closing at $155.85 with a total volume of 208,077 shares.
• The company posted quarterly earnings of $1.56 per share, exceeding the expected $1.45, and reported a revenue of $21.58 billion, up 9.4% year-over-year.
• RTX has a market capitalization of $209.07 billion and a strong analyst sentiment with an average rating of "Moderate Buy" from research analysts.

RTX Corporation (NYSE:RTX - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $157.33 and last traded at $155.85, with a volume of 208077 shares changing hands. The stock had previously closed at $156.88.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTX. Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Citigroup raised their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average target price of $155.69.

RTX Stock Down 0.4%

The firm has a 50 day simple moving average of $143.48 and a two-hundred day simple moving average of $133.04. The stock has a market capitalization of $209.07 billion, a P/E ratio of 34.32, a PEG ratio of 2.89 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.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.74%. RTX's payout ratio is currently 59.78%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,530 shares of company stock worth $3,080,191. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On RTX

Several hedge funds have recently modified their holdings of the company. Gries Financial LLC raised its holdings in RTX by 0.7% during the 2nd quarter. Gries Financial LLC now owns 9,780 shares of the company's stock valued at $1,428,000 after acquiring an additional 69 shares during the period. M3 Advisory Group LLC increased its holdings in shares of RTX by 2.7% in the second quarter. M3 Advisory Group LLC now owns 2,631 shares of the company's stock worth $384,000 after purchasing an additional 69 shares during the period. TrueWealth Advisors LLC increased its holdings in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after purchasing an additional 70 shares during the period. RMR Wealth Builders increased its holdings in shares of RTX by 3.6% in the second quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after purchasing an additional 70 shares during the period. Finally, Verum Partners LLC increased its holdings in shares of RTX by 1.8% in the second quarter. Verum Partners LLC now owns 4,093 shares of the company's stock worth $598,000 after purchasing an additional 73 shares during the period. Institutional investors own 86.50% of the company's stock.

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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