RTX (NYSE:RTX) Trading Up 0.5% Following Analyst Upgrade

Shares of RTX Co. (NYSE:RTX) shot up 0.5% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $136.00 to $144.00. Wells Fargo & Company currently has an overweight rating on the stock. RTX traded as high as $129.95 and last traded at $129.82. 1,443,880 shares were traded during trading, a decline of 74% from the average session volume of 5,483,959 shares. The stock had previously closed at $129.14.

Several other research analysts also recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley upped their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.27.

Insider Activity at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 10Elms LLP bought a new position in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new position in shares of RTX during the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

The stock has a market cap of $172.48 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company’s fifty day simple moving average is $128.57 and its 200-day simple moving average is $123.75. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

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.