RTX (NYSE:RTX) Lifted to “Overweight” at Alembic Global Advisors

Alembic Global Advisors upgraded shares of RTX (NYSE:RTX) from a neutral rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have $134.00 price objective on the stock.

Several other brokerages have also recently weighed in on RTX. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an overweight rating in a research report on Monday. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an equal weight rating in a research note on Tuesday, April 30th. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Finally, TD Cowen boosted their target price on shares of RTX from $115.00 to $142.00 and gave the stock a buy rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $153.47.

RTX Trading Down 0.6 %

RTX stock opened at $116.74 on Tuesday. The firm’s 50 day moving average price is $105.33 and its 200-day moving average price is $99.07. RTX has a 1 year low of $68.56 and a 1 year high of $118.22. The stock has a market cap of $155.29 billion, a P/E ratio of 45.78, a PEG ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that RTX will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,213 shares of company stock worth $22,963,593. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

Hedge funds have recently bought and sold shares of the stock. Briaud Financial Planning Inc boosted its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter worth approximately $26,000. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth approximately $32,000. Finally, Alaska Permanent Fund Corp purchased a new stake in RTX in the 1st quarter worth approximately $42,000. Hedge funds and other 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.