RTX Co. (NYSE:RTX) Announces $0.63 Quarterly Dividend

by · The Markets Daily

RTX Co. (NYSE:RTX – Get Free Report) declared a quarterly dividend on Wednesday, October 9th,RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.63 per share on Thursday, December 12th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th.

RTX has increased its dividend by an average of 2.4% per year over the last three years. RTX has a dividend payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RTX to earn $6.07 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 41.5%.

RTX Stock Performance

NYSE:RTX opened at $123.36 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $122.16 and a 200-day moving average of $113.17. RTX has a twelve month low of $78.00 and a twelve month high of $128.70. The firm has a market cap of $164.19 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. Analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RTX. Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Melius Research upped their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $177.27.

Check Out Our Latest Stock Analysis on RTX

RTX Company Profile

(Get Free Report)

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.

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