RTX (NYSE:RTX) Sets New 1-Year High Following Better-Than-Expected Earnings

RTX Co. (NYSE:RTXGet Free Report) reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $131.60 and last traded at $131.87, with a volume of 142313 shares. The stock had previously closed at $125.05.

The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Susquehanna lowered their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company upped their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.27.

Read Our Latest Stock Analysis on RTX

Institutional Investors Weigh In On RTX

Hedge funds have recently made changes to their positions in the stock. Ascent Group LLC acquired a new position in RTX during the second quarter valued at $251,000. Magnolia Capital Advisors LLC acquired a new position in RTX in the 2nd quarter worth about $253,000. Invst LLC purchased a new position in shares of RTX during the 2nd quarter valued at approximately $243,000. Gateway Wealth Partners LLC increased its holdings in RTX by 7.5% in the 2nd quarter. Gateway Wealth Partners LLC now owns 4,558 shares of the company’s stock worth $458,000 after acquiring an additional 319 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of RTX during the second quarter worth about $46,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

The stock’s 50 day moving average is $118.67 and its two-hundred day moving average is $118.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $170.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81.

RTX Company Profile

(Get Free Report)

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.

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