Royal Bank of Canada Upgrades RTX (NYSE:RTX) to Outperform

Royal Bank of Canada upgraded shares of RTX (NYSE:RTX) from a sector perform rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $140.00 target price on the stock, up from their prior target price of $130.00.

A number of other brokerages have also recently commented on RTX. Barclays raised their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.93.

RTX Trading Up 0.9 %

Shares of RTX stock opened at $116.48 on Thursday. RTX has a 1-year low of $81.37 and a 1-year high of $128.70. The firm has a market cap of $155.04 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. The company has a 50-day moving average of $120.74 and a two-hundred day moving average of $115.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. On average, analysts predict that RTX will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX in the second quarter valued at $41,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the third quarter worth about $41,000. 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.