RTX (NYSE:RTX) Reaches New 1-Year High – Time to Buy?

RTX Co. (NYSE:RTX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $141.09 and last traded at $140.94, with a volume of 7104018 shares trading hands. The stock had previously closed at $139.10.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, Susquehanna dropped their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

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 business’s 50 day moving average is $130.44 and its 200 day moving average is $126.17. The stock has a market capitalization of $189.39 billion, a PE ratio of 39.93, a PEG ratio of 2.11 and a beta of 0.63.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.92%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is 79.77%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several large investors have recently modified their holdings of RTX. Norges Bank bought a new stake in shares of RTX in the 4th quarter valued at about $1,745,644,000. Nuveen LLC bought a new stake in shares of RTX in the 1st quarter valued at about $916,739,000. GAMMA Investing LLC raised its holdings in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Finally, Amundi raised its stake in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Institutional investors 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.