RTX (NYSE:RTX) Stock Rating Upgraded by Royal Bank of Canada

RTX (NYSE:RTX) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $140.00 target price on the stock, up from their prior target price of $130.00. Royal Bank of Canada’s price objective indicates a potential upside of 22.32% from the stock’s current price.

A number of other research analysts have also weighed in on RTX. Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $177.93.

RTX Price Performance

Shares of RTX stock opened at $114.45 on Thursday. The firm has a market capitalization of $152.33 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. RTX has a 12-month low of $80.92 and a 12-month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $121.04 and a 200-day moving average of $115.70.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during 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 company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, equities research analysts forecast that RTX will post 5.56 earnings per share for the current year.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently modified their holdings of RTX. Briaud Financial Planning Inc grew its position in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter worth approximately $41,000. Institutional investors own 86.50% of the company’s stock.

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.