RTX (NYSE:RTX) Stock Price Up 0.5% on Analyst Upgrade

Shares of RTX Co. (NYSE:RTX) shot up 0.5% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $136.00 to $144.00. Wells Fargo & Company currently has an overweight rating on the stock. RTX traded as high as $129.95 and last traded at $129.82. 1,443,880 shares changed hands during trading, a decline of 74% from the average session volume of 5,483,959 shares. The stock had previously closed at $129.14.

A number of other brokerages have also recently commented on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Citigroup decreased their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Bank of America lifted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average price target of $165.27.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last three months. Company insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A number of large investors have recently modified their holdings of RTX. 1620 Investment Advisors Inc. lifted its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after purchasing an additional 79 shares during the last quarter. Fusion Capital LLC lifted its holdings in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC raised its position in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

The company has a 50 day simple moving average of $128.55 and a 200-day simple moving average of $123.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $171.68 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

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.