RTX (NYSE:RTX) Shares Up 0.5% After Strong Earnings

RTX Co. (NYSE:RTX)’s share price shot up 0.5% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $127.21 and last traded at $126.13. 721,916 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,751,757 shares. The stock had previously closed at $125.53.

The company reported $1.45 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $168.56.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,856 shares of company stock valued at $17,131,253 over the last quarter. Company insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Several institutional investors and hedge funds have recently bought and sold shares of RTX. Capital Research Global Investors raised its stake in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors grew its holdings in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

The company has a market capitalization of $166.52 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a fifty day moving average price of $121.59 and a 200 day moving average price of $111.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

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.