RTX Co. (NYSE:RTX) Receives $96.27 Average Target Price from Brokerages

Shares of RTX Co. (NYSE:RTX) have been given a consensus rating of “Hold” by the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $96.93.

A number of research analysts have commented on RTX shares. Bank of America upped their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

RTX Stock Performance

Shares of RTX stock opened at $101.21 on Monday. RTX has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a market capitalization of $134.56 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.85 and a beta of 0.88. The company has a 50-day simple moving average of $96.01 and a 200 day simple moving average of $88.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that RTX will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,547 shares of company stock worth $12,553,645. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Several institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its stake in shares of RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its stake in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the period. Norges Bank bought a new stake in shares of RTX during the 4th quarter valued at about $690,154,000. Massachusetts Financial Services Co. MA grew its stake in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Finally, Boston Partners acquired a new position in RTX in the third quarter valued at approximately $355,350,000. 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.