RTX (NYSE:RTX) Sets New 52-Week High on Strong Earnings

RTX Co. (NYSE:RTX)’s share price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $103.89 and last traded at $102.87, with a volume of 2064734 shares changing hands. The stock had previously closed at $101.56.

The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Analyst Ratings Changes

Several research analysts have recently weighed in on RTX shares. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their price target on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.27.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several large investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC raised its position in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the period. Jacobsen Capital Management grew its stake in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC grew its stake in shares of RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after acquiring an additional 118 shares in the last quarter. Hummer Financial Advisory Services Inc grew its stake in shares of RTX by 1.7% in the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock valued at $715,000 after acquiring an additional 120 shares in the last quarter. Finally, Lcnb Corp grew its stake in shares of RTX by 1.8% in the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock valued at $594,000 after acquiring an additional 122 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $95.16 and its 200 day moving average is $87.21. The firm has a market capitalization of $134.32 billion, a price-to-earnings ratio of 45.10, a P/E/G ratio of 1.85 and a beta of 0.88.

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.