RTX (NYSE:RTX) Rating Increased to Buy at StockNews.com

RTX (NYSE:RTX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts also recently commented on the stock. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Wells Fargo & Company raised their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Susquehanna raised 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, April 24th. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, UBS Group raised 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, April 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Trading Down 0.2 %

Shares of RTX stock opened at $100.39 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX has a twelve month low of $68.56 and a twelve month high of $108.65. The business has a 50-day moving average price of $104.42 and a 200-day moving average price of $95.47. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.78 and a beta of 0.83.

RTX (NYSE:RTX) last announced its quarterly earnings results 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 firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that RTX will post 5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RTX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after acquiring an additional 17,351,313 shares during the period. Capital International Investors grew its position in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the period. Norges Bank purchased a new position in RTX in the fourth quarter valued at $690,154,000. Massachusetts Financial Services Co. MA increased its stake in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares in the last quarter. 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.