RTX (NYSE:RTX) Sets New 1-Year High - Here's What Happened

Key Points

• RTX Corporation's stock reached a new 52-week high of $168.28, closing at $164.88 on Monday, with a trading volume of 430,894 shares.
• Several research analysts, including Citigroup and Bank of America, have raised their price targets for RTX, with the consensus rating currently categorized as "Moderate Buy" and an average price target of $158.87.
• The company reported quarterly earnings of $1.56 per share, exceeding analysts' expectations, and revenue increased by 9.4% year-over-year, totaling $21.58 billion.

RTX Corporation (NYSE:RTX - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $168.28 and last traded at $164.88, with a volume of 430894 shares changing hands. The stock had previously closed at $163.35.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein increased their price objective on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a report on Wednesday, September 10th. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Susquehanna raised their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group raised their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.87.

RTX Stock Performance

The firm has a fifty day moving average of $156.93 and a 200-day moving average of $142.84. The stock has a market capitalization of $219.95 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 3.01 and a beta of 0.67. 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 issued its quarterly earnings data 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 firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 in the last ninety days. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in RTX by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company's stock valued at $17,825,353,000 after purchasing an additional 2,238,247 shares during the last quarter. State Street Corp increased its stake in RTX by 0.5% in the second quarter. State Street Corp now owns 112,706,833 shares of the company's stock valued at $16,457,452,000 after purchasing an additional 552,009 shares during the last quarter. Fisher Asset Management LLC increased its stake in RTX by 4.2% in the second quarter. Fisher Asset Management LLC now owns 20,599,190 shares of the company's stock valued at $3,007,894,000 after purchasing an additional 837,268 shares during the last quarter. Norges Bank purchased a new stake in RTX during the second quarter valued at about $2,359,602,000. Finally, Massachusetts Financial Services Co. MA grew its position in RTX by 9.3% during the second 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 during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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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