RTX (NYSE:RTX) Trading 1.4% Higher Following Analyst Upgrade

RTX Corporation (NYSE:RTX - Get Free Report) was up 1.4% during mid-day trading on Monday after Citigroup raised their price target on the stock from $148.00 to $182.00. Citigroup currently has a buy rating on the stock. RTX traded as high as $149.41 and last traded at $148.90. Approximately 907,993 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 5,266,494 shares. The stock had previously closed at $146.87.

Other equities analysts have also recently issued reports about the stock. Susquehanna cut their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Royal Bank Of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.12.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated 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 owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA increased its position in RTX by 16.3% during the 2nd quarter. CHICAGO TRUST Co NA now owns 15,088 shares of the company's stock valued at $2,203,000 after purchasing an additional 2,116 shares during the period. Opal Wealth Advisors LLC increased its position in RTX by 4.6% during the 2nd quarter. Opal Wealth Advisors LLC now owns 3,766 shares of the company's stock valued at $550,000 after purchasing an additional 167 shares during the period. Farmers Trust Co. increased its position in RTX by 15.3% during the 2nd quarter. Farmers Trust Co. now owns 5,865 shares of the company's stock valued at $856,000 after purchasing an additional 777 shares during the period. Gries Financial LLC increased its position in RTX by 0.7% during the 2nd quarter. Gries Financial LLC now owns 9,780 shares of the company's stock valued at $1,428,000 after purchasing an additional 69 shares during the period. Finally, Golden State Equity Partners increased its position in RTX by 1.9% during the 2nd quarter. Golden State Equity Partners now owns 33,144 shares of the company's stock valued at $4,840,000 after purchasing an additional 614 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.8%

The business's 50-day simple moving average is $139.16 and its 200 day simple moving average is $130.49. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $199.68 billion, a PE ratio of 43.83, a P/E/G ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.82%. RTX's dividend payout ratio is presently 79.77%.

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.