RTX (NYSE:RTX) Reaches New 52-Week High – What’s Next?

RTX Co. (NYSE:RTX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $147.07 and last traded at $146.43, with a volume of 7954976 shares traded. The stock had previously closed at $145.69.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group boosted their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Finally, Royal Bank of Canada reduced their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $159.82.

RTX Stock Performance

The stock has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. 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’s 50 day moving average is $131.41 and its two-hundred day moving average is $126.58.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% 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 this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A number of hedge funds have recently added to or reduced their stakes in the stock. Hamilton Capital LLC raised its stake in RTX by 3.6% during the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company’s stock worth $281,000 after buying an additional 74 shares during the last quarter. ICW Investment Advisors LLC increased its stake in RTX by 0.6% in the first quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company’s stock valued at $1,834,000 after purchasing an additional 77 shares in the last quarter. Apexium Financial LP increased its stake in RTX by 2.2% in the first quarter. Apexium Financial LP now owns 3,629 shares of the company’s stock valued at $481,000 after purchasing an additional 78 shares in the last quarter. 1620 Investment Advisors Inc. increased its stake in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after purchasing an additional 79 shares in the last quarter. Finally, Fusion Capital LLC increased its stake in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.