RTX Co. (RTX) to Issue Quarterly Dividend of $0.63 on March 20th

RTX Co. (NYSE:RTX) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 21st will be given a dividend of 0.63 per share on Thursday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st.

RTX has increased its dividend payment by an average of 7.3% annually over the last three years. RTX has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RTX to earn $6.84 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 36.8%.

RTX Stock Performance

Shares of RTX opened at $123.52 on Wednesday. The company has a market cap of $164.54 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. The firm has a 50-day moving average of $121.03 and a 200-day moving average of $120.77. RTX has a one year low of $88.90 and a one year high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, equities analysts forecast that RTX will post 6.11 earnings per share for the current year.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on RTX shares. Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.07.

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.