RTX (NYSE:RTX) Given New $110.00 Price Target at Citigroup

RTX (NYSE:RTX) had its price target upped by Citigroup from $95.00 to $110.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also issued reports on RTX. Bank of America increased their target price on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, March 19th. Royal Bank of Canada increased their target price on shares of RTX from $82.00 to $88.00 and gave the stock a sector perform rating in a research note on Monday, January 22nd. Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of Hold and a consensus price target of $96.27.

RTX Trading Down 0.4 %

NYSE:RTX opened at $101.02 on Wednesday. The firm’s fifty day moving average is $95.16 and its 200-day moving average is $87.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX has a 52 week low of $68.56 and a 52 week high of $103.89. The firm has a market cap of $134.32 billion, a P/E ratio of 39.62, a P/E/G ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the firm posted $1.22 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that RTX will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s dividend payout ratio is currently 92.55%.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last quarter. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors have recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new position in RTX during the fourth quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new position in RTX during the third quarter worth about $28,000. Planned Solutions Inc. purchased a new position in shares of RTX in the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. 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.