RTX (NYSE:RTX) Trading Up 0.2% Following Analyst Upgrade

RTX Co. (NYSE:RTX - Get Free Report) shares were up 0.2% during trading on Thursday after DZ Bank upgraded the stock from a sell rating to a hold rating. DZ Bank now has a $129.00 price target on the stock. RTX traded as high as $121.05 and last traded at $120.48. Approximately 751,639 shares were traded during trading, a decline of 86% from the average daily volume of 5,494,841 shares. The stock had previously closed at $120.28.

Several other equities analysts have also recently weighed in on the stock. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday. Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $161.38.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction 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 transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

Large investors have recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the first quarter worth $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% in 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 in the last quarter. Finally, Greenline Partners LLC bought a new stake in RTX during the fourth quarter valued at approximately $34,000. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Up 2.8 %

The stock's 50 day simple moving average is $128.31 and its 200 day simple moving average is $123.74. 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 firm has a market cap of $167.46 billion, a PE ratio of 35.33, a PEG ratio of 2.11 and a beta of 0.58.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, February 21st. RTX's payout ratio is currently 73.90%.

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.