RTX (NYSE:RTX) Price Target Raised to $110.00 at Bank of America

RTX (NYSE:RTX) had its target price boosted by equities research analysts at Bank of America from $100.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 8.10% from the stock’s previous close.

A number of other research analysts have also recently weighed in on RTX. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna raised their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Trading Up 0.7 %

NYSE:RTX opened at $101.76 on Wednesday. The stock has a fifty day moving average price of $95.36 and a two-hundred day moving average price of $87.31. The stock has a market capitalization of $135.30 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88. 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 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter last year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX will post 5.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in shares of RTX in the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new position in shares of RTX in the 3rd quarter valued at about $28,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its position in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares in the last quarter. 86.50% of the stock is 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.