RTX (NYSE:RTX) Raised to “Buy” at StockNews.com

RTX (NYSE:RTX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities analysts have also issued research reports about the company. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America increased their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company increased their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Finally, UBS Group increased their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

Shares of RTX stock opened at $100.39 on Thursday. The stock’s 50-day moving average is $104.42 and its two-hundred day moving average is $95.47. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.78 and a beta of 0.83. RTX has a 1 year low of $68.56 and a 1 year high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. Analysts predict that RTX will post 5.39 earnings per share for the current year.

Insider Activity at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RTX. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. acquired a new position in RTX in the 4th quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in RTX in the 4th quarter valued at $38,000. Finally, Fairman Group LLC acquired a new position in RTX in the 4th quarter valued at $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.