RTX (NYSE:RTX) Shares Up 1.2% - What's Next?

RTX Corporation (NYSE:RTX - Get Free Report)'s share price shot up 1.2% during mid-day trading on Thursday . The stock traded as high as $146.19 and last traded at $146.31. 630,268 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,330,903 shares. The stock had previously closed at $144.52.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. UBS Group boosted their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

RTX Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a 50-day moving average price of $136.35 and a 200-day moving average price of $128.88. The firm has a market capitalization of $195.09 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX's payout ratio is 79.77%.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On RTX

Several hedge funds have recently made changes to their positions in RTX. Vanguard Group Inc. increased its stake in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Geode Capital Management LLC increased its position in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Franklin Resources Inc. raised its holdings in RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Norges Bank acquired a new position in RTX during the fourth quarter valued at approximately $1,745,644,000. Finally, Northern Trust Corp grew its stake in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.