RTX (NYSE:RTX) Price Target Raised to $150.00

RTX (NYSE:RTX) had its price target increased by JPMorgan Chase & Co. from $140.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.99% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Morgan Stanley boosted their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Susquehanna reduced their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $159.60.

RTX Price Performance

RTX stock opened at $128.21 on Wednesday. RTX has a 1 year low of $88.90 and a 1 year high of $132.43. The firm has a market capitalization of $170.65 billion, a P/E ratio of 36.63, a P/E/G ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business’s 50-day moving average is $118.67 and its two-hundred day moving average is $118.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. Analysts anticipate that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the period. International Assets Investment Management LLC raised its position in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.