RTX Co. (RTX) To Go Ex-Dividend on May 23rd

RTX Co. (NYSE:RTX) announced a quarterly dividend on Thursday, May 1st, RTT News reports. Shareholders of record on Friday, May 23rd will be given a dividend of 0.68 per share on Thursday, June 12th. This represents a $2.72 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is a 7.9% increase from RTX’s previous quarterly dividend of $0.63.

RTX has raised its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. RTX has a dividend payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.84 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 39.8%.

RTX Trading Down 0.1%

RTX opened at $137.11 on Wednesday. The firm’s fifty day moving average is $129.00 and its two-hundred day moving average is $124.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $183.17 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX has a twelve month low of $99.07 and a twelve month high of $139.84.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities research analysts anticipate that RTX will post 6.11 EPS for the current year.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,946 shares of company stock valued at $9,024,856 in the last quarter. Company insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A hedge fund recently raised its stake in RTX stock. Revolve Wealth Partners LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,873 shares of the company’s stock after buying an additional 159 shares during the period. Revolve Wealth Partners LLC’s holdings in RTX were worth $564,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RTX. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective 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. Finally, UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Buy” and a consensus target price of $159.82.

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.