Wells Fargo & Company Raises RTX (NYSE:RTX) Price Target to $144.00

RTX (NYSE:RTX) had its target price raised by Wells Fargo & Company from $136.00 to $144.00 in a report released on Tuesday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently commented on RTX. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.27.

RTX Stock Performance

Shares of RTX stock opened at $128.89 on Tuesday. The company has a market cap of $172.07 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX has a 52 week low of $99.07 and a 52 week high of $136.17. The business has a 50 day moving average price of $128.59 and a 200-day moving average price of $123.80.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts anticipate that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at $34,000. Finally, Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.