RTX (NYSE:RTX) Given New $110.00 Price Target at Citigroup

RTX (NYSE:RTX) had its price target hoisted by Citigroup from $95.00 to $110.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on RTX. Bank of America upped their price target on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday. TheStreet raised shares of RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. Finally, Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $96.27.

RTX Price Performance

RTX opened at $101.41 on Wednesday. The stock has a fifty day moving average of $95.57 and a 200-day moving average of $87.61. The firm has a market capitalization of $134.83 billion, a P/E ratio of 39.77, a PEG ratio of 1.84 and a beta of 0.88. RTX has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the business posted $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that RTX will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several hedge funds have recently made changes to their positions in RTX. Exchange Traded Concepts LLC lifted its stake in shares of RTX by 8,351.8% in the third quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock valued at $517,000 after buying an additional 7,099 shares during the period. Roman Butler Fullerton & Co. lifted its stake in RTX by 5.1% during the third quarter. Roman Butler Fullerton & Co. now owns 3,614 shares of the company’s stock worth $265,000 after purchasing an additional 174 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in RTX by 2.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,838 shares of the company’s stock worth $1,500,000 after purchasing an additional 558 shares during the period. Builder Investment Group Inc. ADV lifted its stake in RTX by 15.5% during the third quarter. Builder Investment Group Inc. ADV now owns 45,445 shares of the company’s stock worth $3,271,000 after purchasing an additional 6,107 shares during the period. Finally, Ballast Inc. lifted its stake in RTX by 17.7% during the third quarter. Ballast Inc. now owns 11,477 shares of the company’s stock worth $826,000 after purchasing an additional 1,729 shares during the period. Institutional investors own 86.50% of the company’s stock.

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.