RTX (NYSE:RTX) Reaches New 52-Week High - Still a Buy?

RTX Co. (NYSE:RTX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $141.09 and last traded at $140.94, with a volume of 7104018 shares traded. The stock had previously closed at $139.10.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RTX. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Citigroup lowered their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased 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. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $159.82.

RTX Stock Down 1.7%

The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average price is $129.78 and its 200-day moving average price is $125.98. The company has a market cap of $185.06 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.96%. RTX's dividend payout ratio is currently 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction 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 completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hamilton Capital LLC raised its stake in RTX by 3.6% in the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock valued at $281,000 after buying an additional 74 shares during the period. ICW Investment Advisors LLC raised its stake in RTX by 0.6% in the 1st quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock valued at $1,834,000 after acquiring an additional 77 shares during the period. Apexium Financial LP lifted its holdings in RTX by 2.2% during the 1st quarter. Apexium Financial LP now owns 3,629 shares of the company's stock valued at $481,000 after purchasing an additional 78 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares during the period. Finally, Fusion Capital LLC increased its holdings in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after purchasing an additional 80 shares during the last quarter. 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.