RTX (NYSE:RTX) Upgraded at Baird R W

Baird R W upgraded shares of RTX (NYSE:RTX) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

RTX has been the topic of a number of other reports. Morgan Stanley raised their price objective 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. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Down 1.6 %

Shares of NYSE RTX opened at $132.35 on Wednesday. The firm has a market cap of $176.70 billion, a PE ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78. RTX has a 12-month low of $94.19 and a 12-month high of $135.74. The company’s fifty day simple moving average is $127.15 and its 200 day simple moving average is $122.54. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its earnings results 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 net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last quarter. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Several hedge funds have recently bought and sold shares of the company. Prostatis Group LLC grew its stake in RTX by 27.3% in the 4th quarter. Prostatis Group LLC now owns 6,238 shares of the company’s stock worth $722,000 after buying an additional 1,338 shares in the last quarter. Chancellor Financial Group WB LP purchased a new position in RTX in the 4th quarter worth approximately $286,000. 111 Capital purchased a new position in RTX in the 4th quarter worth approximately $1,416,000. Wealth Enhancement Advisory Services LLC grew its stake in RTX by 49.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 985,262 shares of the company’s stock worth $114,014,000 after buying an additional 325,667 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in RTX by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 217,531 shares of the company’s stock worth $25,173,000 after buying an additional 4,571 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.