RTX (NYSE:RTX) Price Target Raised to $132.00

RTX (NYSE:RTX) had its price target boosted by Citigroup from $122.00 to $132.00 in a research report released on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on RTX. StockNews.com upgraded shares of RTX from a hold rating to a buy rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a sell rating to a hold rating and raised their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. TD Cowen upgraded shares of RTX to a strong-buy rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the company a neutral rating in a research report on Monday, July 29th. Finally, Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the stock a positive rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $162.50.

RTX Stock Performance

NYSE RTX opened at $123.93 on Thursday. The company’s 50 day simple moving average is $119.86 and its two-hundred day simple moving average is $109.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a 1 year low of $72.29 and a 1 year high of $125.93. The stock has a market capitalization of $164.86 billion, a PE ratio of 71.64, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts predict that RTX will post 5.46 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 145.67%.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last quarter. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RTX. Capital Research Global Investors boosted its stake in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors boosted its position in RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after acquiring an additional 1,901,256 shares during the period. Hsbc Holdings PLC raised its position in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Finally, Groupama Asset Managment purchased a new position in shares of RTX in the 4th quarter valued at approximately $42,506,000. 86.50% of the stock is 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.