Fintel reports that on July 26, 2023, Morgan Stanley downgraded their outlook for RTX (NYSE:RTX) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 28.23% Upside
As of July 6, 2023, the average one-year price target for RTX is 111.68. The forecasts range from a low of 98.98 to a high of $126.00. The average price target represents an increase of 28.23% from its latest reported closing price of 87.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for RTX is 73,253MM, an increase of 3.80%. The projected annual non-GAAP EPS is 5.16.
RTX Declares $0.59 Dividend
On June 5, 2023 the company declared a regular quarterly dividend of $0.59 per share ($2.36 annualized). Shareholders of record as of August 18, 2023 will receive the payment on September 7, 2023. Previously, the company paid $0.59 per share.
At the current share price of $87.10 / share, the stock’s dividend yield is 2.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.44%, the lowest has been 1.88%, and the highest has been 5.11%. The standard deviation of yields is 0.43 (n=235).
The current dividend yield is 0.63 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.62. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.24%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3457 funds or institutions reporting positions in RTX. This is a decrease of 8 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to RTX is 0.62%, a decrease of 1.01%. Total shares owned by institutions decreased in the last three months by 2.61% to 1,428,348K shares. The put/call ratio of RTX is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 73,662K shares representing 5.05% ownership of the company. In it’s prior filing, the firm reported owning 80,725K shares, representing a decrease of 9.59%. The firm decreased its portfolio allocation in RTX by 16.39% over the last quarter.
Capital International Investors holds 46,031K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 52,461K shares, representing a decrease of 13.97%. The firm decreased its portfolio allocation in RTX by 18.40% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 45,352K shares representing 3.11% ownership of the company. In it’s prior filing, the firm reported owning 44,680K shares, representing an increase of 1.48%. The firm decreased its portfolio allocation in RTX by 9.05% over the last quarter.
Wellington Management Group Llp holds 40,982K shares representing 2.81% ownership of the company. In it’s prior filing, the firm reported owning 42,328K shares, representing a decrease of 3.29%. The firm decreased its portfolio allocation in RTX by 86.89% over the last quarter.
Jpmorgan Chase holds 36,998K shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 35,219K shares, representing an increase of 4.81%. The firm decreased its portfolio allocation in RTX by 88.17% over the last quarter.
Raytheon Technologies Background Information
(This description is provided by the company.)
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ? Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ? the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
This article originally appeared on Fintel
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