RTX (NYSE:RTX) Trading 0.1% Higher - Should You Buy?

RTX Co. (NYSE:RTX - Get Free Report)'s stock price shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $132.91 and last traded at $132.64. 903,369 shares were traded during mid-day trading, a decline of 82% from the average session volume of 4,977,540 shares. The stock had previously closed at $132.46.

Analyst Ratings Changes

A number of research firms have recently commented on RTX. Vertical Research raised RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating in a research note on Monday, March 24th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.40.

RTX Stock Down 9.8 %

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 stock has a market cap of $156.78 billion, a P/E ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. The firm has a 50-day simple moving average of $129.21 and a two-hundred day simple moving average of $123.36.

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RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Equities research analysts expect 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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently made changes to their positions in RTX. Erste Asset Management GmbH bought a new position in RTX during the third quarter worth $102,000. Janus Henderson Group PLC raised its position in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company's stock worth $118,309,000 after acquiring an additional 702,699 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of RTX in the 3rd quarter valued at about $321,000. Redwood Investment Management LLC lifted its stake in shares of RTX by 4.0% in the 3rd quarter. Redwood Investment Management LLC now owns 14,519 shares of the company's stock valued at $1,748,000 after purchasing an additional 565 shares during the period. Finally, Quarry LP boosted its position in shares of RTX by 197.9% during the 3rd quarter. Quarry LP now owns 846 shares of the company's stock valued at $103,000 after purchasing an additional 562 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.