RTX (NYSE:RTX) Upgraded at Argus

Argus upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports.

RTX has been the topic of several other reports. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group lifted their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

Shares of RTX stock opened at $125.95 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX has a twelve month low of $88.90 and a twelve month high of $132.43. The business has a 50-day moving average price of $120.70 and a 200 day moving average price of $120.57. The firm has a market cap of $167.78 billion, a PE ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts predict that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds have recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new position in RTX in the fourth quarter valued at about $39,000. Finally, Millstone Evans Group LLC purchased a new position in RTX in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 86.50% 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.