Royal Bank of Canada Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its target price increased by research analysts at Royal Bank of Canada from $140.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 18.55% from the company’s current price.

A number of other equities research analysts also recently weighed in on RTX. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.73.

RTX Stock Down 1.4 %

Shares of NYSE:RTX traded down $1.82 during midday trading on Wednesday, hitting $126.53. 2,239,036 shares of the company’s stock were exchanged, compared to its average volume of 4,488,686. The company has a market cap of $168.42 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The stock has a 50 day moving average price of $118.67 and a 200-day moving average price of $118.89. RTX has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, sell-side analysts anticipate that RTX will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently bought and sold shares of the stock. Ascent Group LLC bought a new stake in shares of RTX during the second quarter valued at approximately $251,000. KPP Advisory Services LLC grew its holdings in RTX by 7.2% during the 2nd quarter. KPP Advisory Services LLC now owns 5,203 shares of the company’s stock valued at $522,000 after buying an additional 351 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in RTX in the 2nd quarter worth approximately $132,000. Brown Financial Advisors purchased a new stake in shares of RTX during the 2nd quarter worth approximately $715,000. Finally, Sanctuary Advisors LLC bought a new position in shares of RTX during the 2nd quarter valued at approximately $35,285,000. 86.50% of the stock is owned by institutional investors.

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.