Insider Buying: RTX Co. (NYSE:RTX) Director Purchases 200 Shares of Stock

RTX Co. (NYSE:RTX - Get Free Report) Director James A. Winnefeld, Jr. purchased 200 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were purchased at an average price of $117.90 per share, with a total value of $23,580.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at $943,200. This trade represents a 2.56 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

RTX Stock Up 5.9 %

Shares of RTX stock traded up $6.75 during midday trading on Wednesday, hitting $120.50. The company had a trading volume of 10,455,293 shares, compared to its average volume of 5,525,686. The company has a 50 day moving average of $128.33 and a 200 day moving average of $123.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $160.88 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.11 and a beta of 0.58. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is 70.99%.

Institutional Investors Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new position in RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX in the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RTX. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Vertical Research upgraded RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of "Buy" and a consensus price target of $163.53.

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.

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