RTX (NYSE:RTX) Hits New 52-Week High – Here’s Why

RTX Co. (NYSE:RTX) reached a new 52-week high during trading on Wednesday . The company traded as high as $135.94 and last traded at $135.84, with a volume of 3989259 shares trading hands. The stock had previously closed at $134.69.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RTX shares. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted 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. UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research report on Monday. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

The business has a fifty day moving average price of $128.38 and a 200 day moving average price of $122.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market capitalization of $178.14 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released 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 net margin of 5.91% and a return on equity of 12.45%. On average, research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of RTX

A number of hedge funds have recently modified their holdings of RTX. 10Elms LLP acquired a new position in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $34,000. Finally, Modus Advisors LLC acquired a new position in RTX in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.