RTX (NYSE:RTX) Shares Up 1.4% After Analyst Upgrade

RTX Corporation (NYSE:RTX) shot up 1.4% during mid-day trading on Monday after Citigroup raised their price target on the stock from $148.00 to $182.00. Citigroup currently has a buy rating on the stock. RTX traded as high as $149.41 and last traded at $148.90. 907,993 shares were traded during mid-day trading, a decline of 83% from the average session volume of 5,266,494 shares. The stock had previously closed at $146.87.

Several other equities analysts have also recently issued reports on RTX. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Four investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.12.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was 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 owned 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. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RTX. Brighton Jones LLC lifted its stake in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after buying an additional 159 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company’s stock valued at $1,043,000 after buying an additional 3,568 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of RTX by 0.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 81,470 shares of the company’s stock valued at $9,428,000 after buying an additional 664 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 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average is $139.16 and its two-hundred day moving average is $130.49. The company has a market capitalization of $199.68 billion, a P/E ratio of 43.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.82%. RTX’s payout ratio is currently 79.77%.

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.