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

Shares of RTX Co. (NYSE:RTX - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $147.07 and last traded at $146.43, with a volume of 7954976 shares. The stock had previously closed at $145.69.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $159.82.

RTX Stock Performance

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $131.41 and a two-hundred day simple moving average of $126.58. The firm has a market cap of $195.62 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction 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. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RTX. Hamilton Capital LLC lifted its stake in RTX by 3.6% during the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after purchasing an additional 74 shares during the period. ICW Investment Advisors LLC lifted its stake in RTX by 0.6% during the first quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock worth $1,834,000 after purchasing an additional 77 shares during the period. Apexium Financial LP lifted its stake in RTX by 2.2% during the first quarter. Apexium Financial LP now owns 3,629 shares of the company's stock worth $481,000 after purchasing an additional 78 shares during the period. 1620 Investment Advisors Inc. lifted its stake 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 lifted its stake in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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