RTX (NYSE:RTX) Sets New 1-Year High – Should You Buy?

RTX Corporation (NYSE:RTX)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $203.03 and last traded at $201.3050, with a volume of 503190 shares traded. The stock had previously closed at $201.92.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Weiss Ratings reissued a “buy (b-)” rating on shares of RTX in a research note on Monday, December 29th. Citigroup boosted their target price on RTX from $211.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Bank of America raised their price objective on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 27th. The Goldman Sachs Group upped their price target on RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $203.00 price target on RTX in a report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $186.88.

RTX Price Performance

The business has a 50 day moving average of $180.85 and a 200 day moving average of $167.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. The company has a market cap of $266.81 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.92 and a beta of 0.44.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, November 21st. RTX’s payout ratio is currently 55.85%.

Insider Transactions at RTX

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of RTX in the second quarter worth $2,359,602,000. Laurel Wealth Advisors LLC boosted its holdings in shares of RTX by 14,974.7% in the second quarter. Laurel Wealth Advisors LLC now owns 3,598,943 shares of the company’s stock worth $525,518,000 after buying an additional 3,575,069 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of RTX by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock worth $17,825,353,000 after purchasing an additional 2,238,247 shares during the period. Massachusetts Financial Services Co. MA increased its stake in RTX by 9.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after buying an additional 1,361,071 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of RTX by 27.5% during the third quarter. California Public Employees Retirement System now owns 4,796,746 shares of the company’s stock worth $802,640,000 after purchasing an additional 1,034,456 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Company Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.