RTX (NYSE:RTX) Upgraded at Benchmark

Benchmark upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research report released on Wednesday, MarketBeat Ratings reports. Benchmark currently has $140.00 target price on the stock.

RTX has been the subject of a number of other research reports. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $159.82.

RTX Stock Down 0.1%

Shares of NYSE:RTX opened at $135.37 on Wednesday. RTX has a fifty-two week low of $99.07 and a fifty-two week high of $136.40. 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 firm’s 50-day simple moving average is $128.66 and its 200-day simple moving average is $124.19. The company has a market cap of $180.85 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts predict that RTX will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio is 79.77%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,946 shares of company stock valued at $9,024,856 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in RTX during the fourth quarter valued at $1,745,644,000. Nuveen LLC purchased a new stake in RTX in the 1st quarter worth approximately $916,739,000. GAMMA Investing LLC boosted its stake in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after buying an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Finally, Amundi boosted its position in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.