RTX (NYSE:RTX) Price Target Raised to $155.00 at Bank of America

RTX (NYSE:RTX) had its target price raised by stock analysts at Bank of America from $145.00 to $155.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 21.46% from the stock’s current price.

A number of other brokerages have also issued reports on RTX. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group increased their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company increased their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.73.

RTX Trading Up 2.0 %

RTX stock traded up $2.48 during midday trading on Thursday, hitting $127.61. The company had a trading volume of 1,273,849 shares, compared to its average volume of 4,478,285. The stock has a market cap of $169.85 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 1.99 and a beta of 0.81. The stock’s 50 day moving average price is $118.79 and its 200 day moving average price is $118.93. RTX has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

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

Institutional Investors Weigh In On RTX

Several institutional investors have recently modified their holdings of RTX. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the 3rd quarter worth $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the fourth quarter valued at approximately $40,000. Western Pacific Wealth Management LP bought a new stake in RTX during the third quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC boosted its stake in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About RTX

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.