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

RTX Co. (NYSE:RTX - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $138.82 and last traded at $134.93, with a volume of 5513351 shares changing hands. The stock had previously closed at $137.18.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada dropped their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $159.82.

RTX Price Performance

The company has a market cap of $178.12 billion, a P/E ratio of 37.55, a P/E/G ratio of 2.11 and a beta of 0.60. The stock has a 50-day simple moving average of $129.07 and a 200 day simple moving average of $124.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 2.04%. RTX's payout ratio is presently 79.77%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,643 shares of company stock valued at $6,198,889 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Institutional Trading of RTX

A number of large investors have recently made changes to their positions in the company. MBL Wealth LLC increased its holdings in shares of RTX by 12.7% in the first quarter. MBL Wealth LLC now owns 8,104 shares of the company's stock worth $1,073,000 after acquiring an additional 914 shares in the last quarter. Acadian Asset Management LLC increased its stake in RTX by 34.0% during the 1st quarter. Acadian Asset Management LLC now owns 57,289 shares of the company's stock worth $7,587,000 after purchasing an additional 14,535 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in RTX by 30.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 16,533 shares of the company's stock worth $2,190,000 after buying an additional 3,822 shares during the period. IFM Investors Pty Ltd lifted its stake in RTX by 0.6% in the first quarter. IFM Investors Pty Ltd now owns 111,691 shares of the company's stock valued at $14,795,000 after buying an additional 673 shares in the last quarter. Finally, Fortis Capital Advisors LLC acquired a new position in shares of RTX in the first quarter valued at approximately $945,000. 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.