RTX Co. (NYSE:RTX) to Issue Quarterly Dividend of $0.63

RTX Co. (NYSE:RTX) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 annualized dividend and a yield of 2.03%.

RTX has increased its dividend payment by an average of 2.4% per year over the last three years. RTX has a dividend payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.43 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 39.2%.

RTX Stock Performance

NYSE:RTX traded up $0.45 during mid-day trading on Wednesday, hitting $123.95. 3,209,004 shares of the company’s stock traded hands, compared to its average volume of 6,913,510. The firm has a 50 day moving average of $119.45 and a two-hundred day moving average of $109.00. RTX has a 12 month low of $72.29 and a 12 month high of $125.93. The firm has a market capitalization of $164.88 billion, a price-to-earnings ratio of 48.42, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the firm posted $1.29 EPS. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that RTX will post 5.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Wells Fargo & Company reduced their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.13.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% 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.