Bank of America Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective hoisted by Bank of America from $175.00 to $215.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

RTX has been the topic of several other reports. UBS Group raised their price target on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein raised their price target on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.47.

RTX Stock Performance

RTX opened at $179.31 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The company has a market cap of $240.42 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 3.12 and a beta of 0.66. RTX has a 52-week low of $112.27 and a 52-week high of $180.50. The firm’s fifty day simple moving average is $161.56 and its two-hundred day simple moving average is $148.23.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Equities analysts anticipate that RTX will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RTX news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares of the company’s stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,469 shares of company stock valued at $7,364,841 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of institutional investors have recently made changes to their positions in RTX. Norges Bank acquired a new position in shares of RTX in the second quarter valued at approximately $2,359,602,000. Nuveen LLC acquired a new position in shares of RTX in the first quarter valued at approximately $916,739,000. Laurel Wealth Advisors LLC grew its holdings in shares of RTX by 14,974.7% in the second quarter. Laurel Wealth Advisors LLC now owns 3,598,943 shares of the company’s stock valued at $525,518,000 after purchasing an additional 3,575,069 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of RTX by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock valued at $17,825,353,000 after purchasing an additional 2,238,247 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock valued at $845,784,000 after purchasing an additional 1,394,918 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.