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

RTX Co. (NYSE:RTX) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.63 per share on Thursday, June 13th. This represents a $2.52 annualized dividend and a yield of 2.47%. This is a positive change from RTX’s previous quarterly dividend of $0.59.

RTX has increased its dividend payment by an average of 2.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. RTX has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect RTX to earn $6.15 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 38.4%.

RTX Trading Up 0.7 %

RTX stock traded up $0.67 during trading on Thursday, hitting $101.89. The company had a trading volume of 5,538,309 shares, compared to its average volume of 8,089,091. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $96.23 and a 200-day moving average price of $88.21. RTX has a 12 month low of $68.56 and a 12 month high of $103.89. The stock has a market cap of $135.46 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, analysts predict that RTX will post 5.4 earnings per share for the current year.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. UBS Group upped 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. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.93.

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.