RTX (NYSE:RTX) Sets New 12-Month High on Earnings Beat

RTX Corporation (NYSE:RTX) reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $153.39 and last traded at $151.80, with a volume of 7096488 shares trading hands. The stock had previously closed at $151.50.

The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

RTX has been the topic of several research reports. UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Royal Bank Of Canada lowered their target price 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. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.28.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction on 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 transaction, the vice president owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the first quarter valued at about $26,000. PFS Partners LLC lifted its stake in shares of RTX by 101.1% in the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. 10Elms LLP acquired a new stake in shares of RTX in the fourth quarter valued at about $29,000. Greenline Partners LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company’s 50 day moving average is $141.35 and its 200 day moving average is $131.70. The stock has a market cap of $199.41 billion, a price-to-earnings ratio of 43.77, a PEG ratio of 2.82 and a beta of 0.64.

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.