RTX (NYSE:RTX) Price Target Raised to $110.00

RTX (NYSE:RTX) had its target price increased by equities research analysts at Bank of America from $100.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 9.41% from the stock’s current price.

RTX has been the subject of a number of other research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.27.

RTX Stock Down 0.8 %

RTX stock traded down $0.84 during mid-day trading on Wednesday, hitting $100.54. The company had a trading volume of 4,571,004 shares, compared to its average volume of 8,214,240. The stock has a market cap of $133.68 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX has a 1 year low of $68.56 and a 1 year high of $103.89. The business has a fifty day moving average of $94.97 and a 200 day moving average of $87.12.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the business earned $1.22 EPS. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that RTX will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Several large investors have recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new position in RTX in the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of RTX in the third quarter worth $28,000. Planned Solutions Inc. purchased a new position in RTX during the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. increased its holdings in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Company Profile

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.