RTX (NYSE:RTX) Price Target Increased to $110.00 by Analysts at Bank of America

RTX (NYSE:RTX) had its price target lifted by Bank of America from $100.00 to $110.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

RTX has been the subject of several other reports. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Wells Fargo & Company reaffirmed an overweight rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Finally, TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of Hold and a consensus price target of $96.27.

RTX Stock Down 0.4 %

Shares of RTX stock opened at $101.02 on Wednesday. The stock’s 50-day moving average is $95.16 and its 200 day moving average is $87.21. RTX has a one year low of $68.56 and a one year high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. The firm has a market cap of $134.32 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Activity

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Large investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. bought a new stake in RTX during the fourth quarter valued at $25,000. Planned Solutions Inc. bought a new stake in RTX during the fourth quarter worth about $30,000. Strengthening Families & Communities LLC bought a new stake in RTX during the third quarter worth about $28,000. Alaska Permanent Fund Corp bought a new stake in RTX during the first quarter worth about $42,000. Finally, Financial Gravity Asset Management Inc. lifted its stake in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. 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.