Wells Fargo & Company Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price target boosted by investment analysts at Wells Fargo & Company from $136.00 to $144.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.93% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Bank of America boosted their price objective 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. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.27.

RTX Trading Up 0.5 %

Shares of NYSE RTX traded up $0.67 during midday trading on Tuesday, hitting $129.81. 836,975 shares of the company traded hands, compared to its average volume of 5,105,793. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX has a 12-month low of $99.07 and a 12-month high of $136.17. The stock has a 50-day moving average price of $128.56 and a 200 day moving average price of $123.68. The firm has a market cap of $173.31 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last posted 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 return on equity of 12.45% and a net margin of 5.91%. As a group, analysts expect that RTX will post 6.11 earnings per share for the current year.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in RTX in the 4th quarter valued at $1,745,644,000. GAMMA Investing LLC lifted its position in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after buying an additional 3,164,844 shares during the last quarter. Amundi grew its holdings in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other 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.