RTX (NYSE:RTX) Price Target Lowered to $145.00 at JPMorgan Chase & Co.

RTX (NYSE:RTX) had its price target lowered by JPMorgan Chase & Co. from $150.00 to $145.00 in a research report report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently commented on RTX. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $161.06.

RTX Price Performance

Shares of NYSE RTX opened at $124.79 on Monday. The firm has a market cap of $166.71 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX has a 1-year low of $99.07 and a 1-year high of $136.17. The business’s 50 day moving average is $128.30 and its 200-day moving average is $123.75.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts predict that RTX will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is currently 73.90%.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RTX. Morse Asset Management Inc purchased a new position in RTX in the third quarter valued at about $321,000. Tudor Financial Inc. purchased a new position in RTX in the third quarter valued at about $797,000. World Investment Advisors LLC boosted its stake in RTX by 37.1% in the third quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock valued at $4,944,000 after acquiring an additional 11,033 shares during the last quarter. Sfmg LLC boosted its stake in RTX by 4.7% in the third quarter. Sfmg LLC now owns 73,978 shares of the company’s stock valued at $8,963,000 after acquiring an additional 3,306 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in RTX by 365.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company’s stock valued at $13,962,000 after acquiring an additional 90,499 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.