Citigroup Lowers RTX (NYSE:RTX) Price Target to $148.00

RTX (NYSE:RTX) had its price target lowered by equities research analysts at Citigroup from $153.00 to $148.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 15.41% from the stock’s current price.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.73.

RTX Stock Performance

NYSE:RTX opened at $128.24 on Thursday. The company has a market cap of $171.21 billion, a P/E ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. RTX has a twelve month low of $99.07 and a twelve month high of $136.17. The company’s 50-day moving average price is $128.56 and its 200-day moving average price is $123.59. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently bought and sold shares of RTX. 10Elms LLP acquired a new stake in RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new position in RTX in the fourth quarter valued at $39,000. Institutional investors and hedge funds 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.