RTX (NYSE:RTX) Stock Price Up 0.2% - Should You Buy?

RTX Co. (NYSE:RTX - Get Free Report)'s share price was up 0.2% during trading on Monday . The stock traded as high as $132.12 and last traded at $131.99. Approximately 981,709 shares traded hands during trading, a decline of 83% from the average daily volume of 5,630,104 shares. The stock had previously closed at $131.72.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. UBS Group raised RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised RTX from a "hold" rating to a "buy" rating and raised their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Susquehanna lifted 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 investment 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. According to MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $166.40.

RTX Stock Performance

The business has a 50 day moving average of $128.96 and a 200-day moving average of $123.24. 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 company has a market capitalization of $177.36 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Remove Ads

RTX (NYSE:RTX - Get Free Report) last announced its quarterly 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%. On average, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX's payout ratio is 70.99%.

Insider Transactions at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new position in shares of RTX during the 4th quarter valued at $1,745,644,000. Hedge funds and other 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.