RTX (NYSE:RTX) Upgraded 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 note released on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Susquehanna boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. UBS Group boosted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.27.

RTX Price Performance

RTX opened at $120.77 on Thursday. 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 company’s 50-day moving average price is $122.17 and its 200 day moving average price is $114.09. RTX has a fifty-two week low of $79.13 and a fifty-two week high of $128.70. The firm has a market cap of $160.75 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82.

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

RTX Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Briaud Financial Planning Inc grew its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX in the second quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the third quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at about $32,000. Finally, Fairfield Financial Advisors LTD acquired a new position in RTX in the 2nd quarter worth about $41,000. Hedge funds and other 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.