RTX (NYSE:RTX) Raised to “Buy” at UBS Group

UBS Group upgraded shares of RTX (NYSE:RTX) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. They currently have $147.00 price objective on the stock, up from their prior price objective of $142.00.

Several other research firms have also weighed in on RTX. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Trading Up 1.7 %

NYSE:RTX opened at $125.33 on Monday. RTX has a 52 week low of $88.95 and a 52 week high of $132.43. The firm has a 50-day moving average price of $121.64 and a two-hundred day moving average price of $121.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $166.95 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC lifted its position in RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its stake in RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after buying an additional 576,214 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of RTX during the 4th quarter valued at $1,745,644,000. 86.50% of the stock is currently owned by institutional investors.

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.