RTX (NYSE:RTX) Shares Climb 2.1% After Analyst Upgrade

RTX Corporation (NYSE:RTX) rose 2.1% during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $201.25 and last traded at $200.3880. 3,684,266 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 5,381,978 shares. The stock had previously closed at $196.31.

Other equities research analysts have also recently issued reports about the company. Rothschild & Co Redburn lifted their price objective on RTX from $180.00 to $215.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein cut their target price on RTX from $223.00 to $214.00 and set a “market perform” rating on the stock in a research note on Thursday, October 15th. Argus set a $245.00 target price on RTX and gave the stock a “buy” rating in a report on Thursday, July 30th. BNP Paribas Exane boosted their target price on RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Deutsche Bank cut shares of RTX from a “buy” rating to a “hold” rating and set a $208.00 price objective for the company. in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $231.24.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total value of $3,057,627.60. Following the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 9,071 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the transaction, the executive vice president directly owned 16,930 shares in the company, valued at $3,414,781. The trade was a 34.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by corporate insiders.

RTX News Roundup

These are some of the RTX news items that stood out recently:

• Positive Sentiment: A report spotlighted RTX’s DeepStrike test and a DARPA award, bringing renewed attention to its defense technology work. RTX DeepStrike Test And DARPA Win Put Fresh Focus On Defense Tech
• Positive Sentiment: Zacks upgraded RTX from “hold” to “strong buy.” Separate analyst coverage points to rising defense spending, strong backlogs and improved earnings expectations as potential supports for RTX and other aerospace companies. Buy 4 Aerospace Defense Behemoths to Enhance Your Portfolio Returns
• Positive Sentiment: Coverage of RTX’s aerospace business emphasized the value of its large installed engine base and related services, which can provide revenue beyond sales of new aircraft and engines. How These 5 Aerospace Stocks Earn Money Beyond New Plane Sales

Institutional Trading of RTX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortress Financial Group LLC bought a new position in RTX during the second quarter worth about $358,000. Evergreen Advisors LLC acquired a new stake in RTX in the first quarter valued at $31,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of RTX in the second quarter valued at about $36,000. Next Level Wealth Planning LLC acquired a new stake in shares of RTX in the third quarter valued at about $41,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of RTX during the third quarter worth about $42,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.4%

The stock has a 50-day moving average price of $192.93 and a 200-day moving average price of $195.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The company has a market capitalization of $267.71 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.22 and a beta of 0.30.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.78 by $0.48. RTX had a return on equity of 14.89% and a net margin of 8.75%. The business had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.11 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that RTX Corporation will post 7.73 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, November 20th. RTX’s dividend payout ratio (DPR) is presently 47.40%.

RTX Company Profile

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.