RTX (NYSE:RTX) Given New $110.00 Price Target at Citigroup

RTX (NYSE:RTX) had its price objective lifted by Citigroup from $95.00 to $110.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

RTX has been the subject of several other research reports. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the stock a sector perform rating in a research report on Monday, January 22nd. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Finally, UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $96.27.

RTX Stock Down 0.4 %

Shares of RTX opened at $101.02 on Wednesday. The company has a 50-day simple moving average of $95.16 and a 200-day simple moving average of $87.21. The firm has a market capitalization of $134.32 billion, a P/E ratio of 39.62, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX has a 52 week low of $68.56 and a 52 week high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that RTX will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s payout ratio is 92.55%.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new stake in RTX in the 4th quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in shares of RTX in the 3rd quarter valued at about $28,000. Planned Solutions Inc. bought a new position in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. grew its position in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the period. Finally, Valley National Advisers Inc. grew its position in shares of RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.