RTX Corporation (NYSE:RTX - Get Free Report) shares reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $153.39 and last traded at $151.80, with a volume of 7096488 shares trading hands. The stock had previously closed at $151.50.
The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The business's revenue was up 9.4% on a year-over-year basis.
RTX Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.82%. RTX's payout ratio is currently 79.77%.
Analyst Ratings Changes
RTX has been the topic of several analyst reports. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research note on Monday. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Morgan Stanley increased their target price on shares of RTX from $135.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average price target of $164.28.
Read Our Latest Report on RTX
Insider Transactions at RTX
In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.
Institutional Trading of RTX
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the 1st quarter worth about $26,000. PFS Partners LLC boosted its holdings in RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after purchasing an additional 89 shares in the last quarter. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter valued at about $29,000. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the fourth quarter valued at $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
RTX Stock Down 1.5%
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 firm's 50-day moving average price is $141.35 and its 200 day moving average price is $131.70. The firm has a market capitalization of $199.41 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.
About RTX
(
Get Free Report)
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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