RTX Corporation (NYSE:RTX – Get Free Report)’s share price was down 1.4% on Thursday. The stock traded as low as $198.25 and last traded at $198.3880. 4,045,282 shares were traded during trading, a decline of 25% from the average session volume of 5,381,111 shares. The stock had previously closed at $201.29.
Recent RTX Headlines
Investors following RTX have been watching these headlines:
- Positive Sentiment: A DeepStrike test and a DARPA award have put fresh attention on RTX’s defense technology business, potentially reinforcing its position in advanced defense programs. RTX DeepStrike Test And DARPA Win Put Fresh Focus On Defense Tech
- Positive Sentiment: Zacks upgraded RTX from “hold” to “strong-buy,” a favorable shift in analyst sentiment. Separate coverage points to rising earnings estimates and the company’s defense-technology and aerospace-services businesses as supports for its outlook. RTX Outperforms Industry in the Past Year: Should You Buy?
- Positive Sentiment: RTX was included among aerospace and defense companies seen as beneficiaries of rising defense spending, strong order backlogs and improved earnings outlooks. Buy 4 Aerospace Defense Behemoths to Enhance Your Portfolio Returns
Analysts Set New Price Targets
Several equities research analysts have weighed in on RTX shares. UBS Group increased their target price on shares of RTX from $209.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Rothschild & Co Redburn boosted their price target on shares of RTX from $180.00 to $215.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Sanford C. Bernstein lowered their price objective on shares of RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a research report on Thursday, October 15th. BNP Paribas Exane raised their price objective on RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Barclays lifted their target price on RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.24.
Check Out Our Latest Analysis on RTX
RTX Stock Performance
The stock has a fifty day simple moving average of $192.93 and a 200-day simple moving average of $195.57. The stock has a market cap of $267.71 billion, a P/E ratio of 32.21, a PEG ratio of 2.22 and a beta of 0.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05.
RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. The company had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 earnings per share. On average, equities analysts expect that RTX Corporation will post 7.73 earnings per share for the current year.
RTX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio (DPR) is currently 47.40%.
Insider Activity at RTX
In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This represents a 50.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya Williams sold 9,071 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the transaction, the executive vice president directly owned 16,930 shares of the company’s stock, valued at $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in RTX. Meeder Advisory Services Inc. boosted its holdings in shares of RTX by 17.5% in the 3rd quarter. Meeder Advisory Services Inc. now owns 38,645 shares of the company’s stock valued at $7,174,000 after buying an additional 5,745 shares during the last quarter. DiPaolo Financial Group Inc. acquired a new position in RTX during the third quarter worth $85,000. Jackson Thornton Wealth Management LLC raised its position in RTX by 20.9% during the third quarter. Jackson Thornton Wealth Management LLC now owns 1,892 shares of the company’s stock worth $351,000 after acquiring an additional 327 shares in the last quarter. Texas Yale Capital Corp. raised its position in RTX by 0.4% during the third quarter. Texas Yale Capital Corp. now owns 12,098 shares of the company’s stock worth $2,246,000 after acquiring an additional 50 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in RTX by 1.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,533 shares of the company’s stock worth $2,141,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.
About RTX
RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.
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