RTX (NYSE:RTX) Stock Price Up 0.9% After Analyst Upgrade

RTX Co. (NYSE:RTX - Get Free Report)'s share price traded up 0.9% during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $136.00 to $144.00. Wells Fargo & Company currently has an overweight rating on the stock. RTX traded as high as $129.93 and last traded at $129.77. 576,261 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,122,354 shares. The stock had previously closed at $128.64.

A number of other brokerages have also recently issued reports on RTX. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a "hold" rating to a "buy" rating and upped their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.27.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company's stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company's stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On RTX

Hedge funds have recently made changes to their positions in the business. Wells Trecaso Financial Group LLC increased its position in RTX by 1.5% during the 1st quarter. Wells Trecaso Financial Group LLC now owns 64,220 shares of the company's stock valued at $8,506,000 after purchasing an additional 949 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of RTX by 2.6% during the first quarter. Cornerstone Wealth Management LLC now owns 54,093 shares of the company's stock valued at $7,165,000 after buying an additional 1,361 shares during the period. Shepherd Financial Partners LLC raised its stake in RTX by 1.7% in the first quarter. Shepherd Financial Partners LLC now owns 48,750 shares of the company's stock worth $6,457,000 after buying an additional 812 shares in the last quarter. Hemenway Trust Co LLC lifted its holdings in RTX by 4.2% in the first quarter. Hemenway Trust Co LLC now owns 260,628 shares of the company's stock worth $34,523,000 after buying an additional 10,518 shares during the period. Finally, Creative Capital Management Investments LLC boosted its position in RTX by 4.3% during the 1st quarter. Creative Capital Management Investments LLC now owns 6,582 shares of the company's stock valued at $872,000 after acquiring an additional 273 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

The stock has a market cap of $172.07 billion, a PE ratio of 36.31, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $128.59 and a two-hundred day simple moving average of $123.83.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is 70.99%.

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.