RTX (NYSE:RTX) Price Target Raised to $180.00

RTX (NYSE:RTX) had its price objective upped by Morgan Stanley from $165.00 to $180.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research report on Monday. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.88.

RTX Stock Performance

RTX stock opened at $156.86 on Wednesday. The firm has a 50 day simple moving average of $143.48 and a 200-day simple moving average of $132.81. RTX has a 1-year low of $112.27 and a 1-year high of $157.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. On average, analysts expect that RTX will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX’s dividend payout ratio is presently 59.78%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president owned 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,530 shares of company stock valued at $3,080,191 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently made changes to their positions in the company. PFS Partners LLC boosted its holdings in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after buying an additional 89 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in RTX during the first quarter worth about $26,000. 10Elms LLP purchased a new stake in RTX during the fourth quarter worth about $29,000. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter worth about $34,000. Finally, Summit Securities Group LLC purchased a new stake in RTX during the first quarter worth about $40,000. Hedge funds and other 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.