RTX (NYSE:RTX) Trading 1.2% Higher - What's Next?

RTX Corporation (NYSE:RTX - Get Free Report)'s share price traded up 1.2% on Thursday . The company traded as high as $143.32 and last traded at $143.12. 1,487,581 shares were traded during trading, a decline of 72% from the average session volume of 5,381,951 shares. The stock had previously closed at $141.38.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. Royal Bank Of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Finally, DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Trading Up 0.8%

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 stock has a market cap of $190.31 billion, a P/E ratio of 41.78, a PEG ratio of 2.56 and a beta of 0.63. The firm's fifty day moving average price is $134.28 and its two-hundred day moving average price is $127.93.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.91%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC purchased a new stake in RTX during the 1st quarter valued at about $26,000. 10Elms LLP bought a new position in shares of RTX in the fourth quarter worth approximately $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Finally, Greenline Partners LLC purchased a new position in RTX in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

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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