RTX (NYSE:RTX) Price Target Raised to $150.00

RTX (NYSE:RTX) had its price objective hoisted by research analysts at Royal Bank of Canada from $140.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 16.15% from the company’s current price.

A number of other brokerages have also recently commented on RTX. Wells Fargo & Company increased their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Price Performance

NYSE:RTX opened at $129.14 on Wednesday. RTX has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a market cap of $171.89 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s 50-day simple moving average is $118.97 and its 200 day simple moving average is $119.00.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. As a group, sell-side analysts forecast that RTX will post 5.56 EPS for the current fiscal year.

Institutional Trading of RTX

Several hedge funds have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter worth $40,000. Western Pacific Wealth Management LP bought a new stake in RTX during the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC grew its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after buying an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by 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.