RTX (NYSE:RTX) Sets New 52-Week High Following Earnings Beat

Key Points

• RTX Corporation reached a new 52-week high of $176.67 after reporting earnings per share (EPS) of $1.70, exceeding analysts' expectations of $1.41.
• The company's quarterly revenue saw an 11.9% increase year-over-year, totaling $22.48 billion, which also surpassed analyst predictions of $21.26 billion.
• Multiple research firms have upgraded their price targets for RTX stock, with Deutsche Bank setting a target at $195.00, reflecting strong investor confidence in the company's prospects.

RTX Corporation (NYSE:RTX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $176.67 and last traded at $176.64, with a volume of 1137466 shares changing hands. The stock had previously closed at $160.71.

The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.29. The company had revenue of $22.48 billion during the quarter, compared to analysts' expectations of $21.26 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Susquehanna upped their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $195.00 price target on shares of RTX in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, UBS Group upped their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and a consensus target price of $164.13.

Insiders Place Their Bets

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

Hedge Funds Weigh In On RTX

Several large investors have recently made changes to their positions in RTX. PFS Partners LLC grew its position in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in RTX in the 1st quarter worth approximately $26,000. LFA Lugano Financial Advisors SA acquired a new stake in RTX in the 2nd quarter worth approximately $29,000. Access Investment Management LLC acquired a new stake in RTX in the 2nd quarter worth approximately $31,000. Finally, Clayton Financial Group LLC acquired a new position in shares of RTX during the third quarter worth approximately $36,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Up 10.5%

The company has a market capitalization of $237.74 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. The business has a fifty day moving average price of $159.31 and a 200 day moving average price of $146.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

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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