RTX (NYSE:RTX) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of RTX (NYSE:RTX) from a hold rating to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

RTX has been the topic of several other reports. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Melius Research lifted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Up 0.2 %

RTX stock opened at $120.77 on Thursday. The firm has a 50-day moving average price of $122.17 and a 200-day moving average price of $114.17. RTX has a 12 month low of $79.13 and a 12 month high of $128.70. 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 stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. As a group, equities research analysts anticipate that RTX will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. RTX’s payout ratio is presently 72.00%.

Institutional Investors Weigh In On RTX

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Ameriprise Financial Inc. lifted its position in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RTX by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.