RTX Co. (NYSE:RTX) Receives Average Recommendation of “Buy” from Brokerages

Shares of RTX Co. (NYSE:RTX) have been assigned an average recommendation of “Buy” from the nineteen research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $159.82.

Several analysts have issued reports on the stock. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. UBS Group increased their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Susquehanna lowered 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.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,946 shares of company stock valued at $9,024,856. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Principal Financial Group Inc. grew its holdings in RTX by 6.4% in the third quarter. Principal Financial Group Inc. now owns 1,901,336 shares of the company’s stock worth $230,366,000 after purchasing an additional 114,283 shares during the last quarter. Legacy Private Trust Co. purchased a new position in RTX during the 4th quarter worth $393,000. Fortitude Family Office LLC increased its position in RTX by 211.0% during the 4th quarter. Fortitude Family Office LLC now owns 2,998 shares of the company’s stock valued at $347,000 after buying an additional 2,034 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in RTX by 6.7% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 9,662 shares of the company’s stock valued at $1,118,000 after buying an additional 610 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in RTX by 16.8% in the fourth quarter. ORG Partners LLC now owns 2,201 shares of the company’s stock worth $255,000 after acquiring an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $135.56 on Friday. The business’s 50 day moving average price is $128.51 and its 200-day moving average price is $124.10. RTX has a fifty-two week low of $99.07 and a fifty-two week high of $136.55. The company has a market cap of $181.10 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Sell-side analysts predict that RTX will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is 79.77%.

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.