RTX (NYSE:RTX) Sets New 52-Week High on Strong Earnings

Shares of RTX Co. (NYSE:RTX) reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $103.89 and last traded at $102.87, with a volume of 2064734 shares trading hands. The stock had previously closed at $101.56.

The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. UBS Group increased their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. Finally, TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.27.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RTX. Bear Mountain Capital Inc. purchased a new position in RTX in the fourth quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the 3rd quarter worth approximately $28,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

The firm has a market cap of $134.32 billion, a PE ratio of 45.10, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm’s 50-day moving average price is $95.16 and its two-hundred day moving average price is $87.21.

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.