RTX (NYSE:RTX) Trading Up 2.4% – Here’s What Happened

Shares of RTX Co. (NYSE:RTX) traded up 2.4% on Friday . The company traded as high as $123.05 and last traded at $122.98. 695,540 shares changed hands during trading, a decline of 90% from the average session volume of 6,687,444 shares. The stock had previously closed at $120.08.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 2.9 %

The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $122.08 and a 200-day moving average of $112.77. The firm has a market capitalization of $164.45 billion, a P/E ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elgethun Capital Management lifted its stake in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the period. Canal Capital Management LLC grew its position in shares of RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its holdings in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares during the period. 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.