RTX (NYSE:RTX) Trading 4% Higher - Time to Buy?

RTX Co. (NYSE:RTX - Get Free Report)'s share price shot up 4% during trading on Tuesday . The stock traded as high as $123.97 and last traded at $121.99. 1,940,627 shares were traded during trading, a decline of 65% from the average session volume of 5,539,511 shares. The stock had previously closed at $117.32.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RTX shares. Argus raised RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of RTX from $156.00 to $136.00 and set an "overweight" rating on the stock in a report on Tuesday. Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $136.00 to $160.00 in a research note 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.73.

RTX Stock Performance

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 cap of $171.21 billion, a P/E ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58. The business's 50 day simple moving average is $128.56 and its 200 day simple moving average is $123.59.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, 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 sale, the chief financial officer now owns 59,556 shares of the company's stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company's stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RTX

Large investors have recently bought and sold shares of the business. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Finally, Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth approximately $39,000. Institutional investors own 86.50% of the company's stock.

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.