Brokerages Set RTX Co. (NYSE:RTX) Price Target at $177.27

RTX Co. (NYSE:RTX) has received an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $177.27.

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RTX. Geode Capital Management LLC grew its position in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the last quarter. MidWestOne Financial Group Inc. boosted its position in shares of RTX by 43.4% during the third quarter. MidWestOne Financial Group Inc. now owns 10,067 shares of the company’s stock worth $1,220,000 after buying an additional 3,047 shares during the period. Insight Inv LLC grew its holdings in RTX by 1.4% in the 3rd quarter. Insight Inv LLC now owns 17,549 shares of the company’s stock worth $2,126,000 after buying an additional 250 shares in the last quarter. Frisch Financial Group Inc. increased its position in RTX by 5.4% in the 3rd quarter. Frisch Financial Group Inc. now owns 4,214 shares of the company’s stock valued at $511,000 after acquiring an additional 214 shares during the period. Finally, Prestige Wealth Management Group LLC raised its stake in RTX by 6.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,286 shares of the company’s stock valued at $277,000 after acquiring an additional 131 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of NYSE:RTX opened at $118.53 on Friday. The company has a market cap of $157.77 billion, a P/E ratio of 33.87, a PEG ratio of 2.10 and a beta of 0.82. RTX has a one year low of $78.00 and a one year high of $128.70. The business’s 50-day simple moving average is $122.20 and its 200 day simple moving average is $113.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

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.