RTX (NYSE:RTX) Shares Up 0.9% on Analyst Upgrade

RTX Co. (NYSE:RTX)’s share price shot up 0.9% during trading on Wednesday 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 $129.93 and last traded at $129.77. 576,261 shares were traded during trading, a decline of 89% from the average session volume of 5,122,354 shares. The stock had previously closed at $128.64.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup reduced their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $165.27.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Large investors have recently bought and sold shares of the business. Dover Advisors LLC increased its position in shares of RTX by 11.5% in the first quarter. Dover Advisors LLC now owns 28,818 shares of the company’s stock valued at $3,817,000 after buying an additional 2,983 shares in the last quarter. Hoey Investments Inc. grew its stake in RTX by 18.6% in the 1st quarter. Hoey Investments Inc. now owns 7,450 shares of the company’s stock valued at $987,000 after acquiring an additional 1,166 shares during the period. CRA Financial Services LLC increased its holdings in RTX by 2.5% in the 1st quarter. CRA Financial Services LLC now owns 5,073 shares of the company’s stock worth $672,000 after acquiring an additional 122 shares in the last quarter. Goldstone Financial Group LLC raised its position in RTX by 8.8% during the first quarter. Goldstone Financial Group LLC now owns 2,829 shares of the company’s stock worth $375,000 after acquiring an additional 229 shares during the period. Finally, CVA Family Office LLC lifted its holdings in RTX by 4.9% during the first quarter. CVA Family Office LLC now owns 7,290 shares of the company’s stock valued at $966,000 after purchasing an additional 343 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.4 %

The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $128.57 and its 200-day moving average price is $123.75. The firm has a market cap of $172.48 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is currently 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.