RTX (NYSE:RTX) Stock Price Up 0.9% After Analyst Upgrade

RTX Co. (NYSE:RTX - Get Free Report)'s stock price was up 0.9% during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $136.00 to $144.00. Wells Fargo & Company currently has an overweight rating on the stock. RTX traded as high as $129.93 and last traded at $129.77. Approximately 576,261 shares traded hands during trading, a decline of 89% from the average daily volume of 5,122,354 shares. The stock had previously closed at $128.64.

Other analysts also recently issued research reports about the company. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Morgan Stanley boosted their price target 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. UBS Group upgraded shares of RTX from a "neutral" rating to a "buy" rating in a research report on Monday, March 24th. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $165.27.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This represents 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. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Trecaso Financial Group LLC boosted its stake in RTX by 1.5% during the first quarter. Wells Trecaso Financial Group LLC now owns 64,220 shares of the company's stock worth $8,506,000 after buying an additional 949 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of RTX by 2.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 54,093 shares of the company's stock valued at $7,165,000 after acquiring an additional 1,361 shares during the last quarter. Shepherd Financial Partners LLC grew its holdings in shares of RTX by 1.7% in the first quarter. Shepherd Financial Partners LLC now owns 48,750 shares of the company's stock valued at $6,457,000 after purchasing an additional 812 shares during the period. Hemenway Trust Co LLC increased its position in RTX by 4.2% during the first quarter. Hemenway Trust Co LLC now owns 260,628 shares of the company's stock worth $34,523,000 after purchasing an additional 10,518 shares during the last quarter. Finally, Creative Capital Management Investments LLC raised its stake in RTX by 4.3% during the first quarter. Creative Capital Management Investments LLC now owns 6,582 shares of the company's stock worth $872,000 after purchasing an additional 273 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.3 %

The firm's fifty day simple moving average is $128.59 and its two-hundred day simple moving average is $123.83. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $172.07 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX's payout ratio is 70.99%.

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.