RTX Co. (NYSE:RTX) Given Average Rating of “Buy” by Analysts

RTX Co. (NYSE:RTX) has received a consensus recommendation of “Buy” from the twenty analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $159.82.

Several research analysts have recently weighed in on the stock. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th.

RTX Trading Up 0.7%

Shares of RTX opened at $137.49 on Tuesday. The business’s 50-day moving average price is $129.15 and its 200-day moving average price is $125.30. RTX has a twelve month low of $99.07 and a twelve month high of $138.82. The stock has a market cap of $183.68 billion, a PE ratio of 38.73, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

A number of large investors have recently added to or reduced their stakes in RTX. Norges Bank bought a new stake in shares of RTX in the fourth quarter worth about $1,745,644,000. Nuveen LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $916,739,000. GAMMA Investing LLC grew its position in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after buying an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after buying an additional 3,164,844 shares during the last quarter. Finally, Amundi grew its position in shares of RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

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.