RTX (NYSE:RTX) Rating Increased to Buy at Argus

Argus upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports.

A number of other analysts have also issued reports on RTX. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group raised their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Down 0.7 %

RTX stock opened at $125.95 on Tuesday. The company’s 50 day simple moving average is $120.70 and its 200-day simple moving average is $120.57. The firm has a market capitalization of $167.78 billion, a PE ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82. RTX has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts expect that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RTX. ORG Wealth Partners LLC acquired a new position in RTX during the 3rd quarter valued at about $50,000. CX Institutional raised its position in shares of RTX by 731.6% during the 3rd quarter. CX Institutional now owns 53,444 shares of the company’s stock worth $6,475,000 after buying an additional 47,017 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of RTX by 0.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 172,796 shares of the company’s stock worth $20,936,000 after buying an additional 666 shares in the last quarter. Creative Planning raised its position in shares of RTX by 1.2% during the 3rd quarter. Creative Planning now owns 490,632 shares of the company’s stock worth $59,445,000 after buying an additional 5,967 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. raised its position in shares of RTX by 1.2% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 14,297 shares of the company’s stock worth $1,732,000 after buying an additional 174 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.