Deutsche Bank Aktiengesellschaft Upgrades RTX (NYSE:RTX) to Buy

RTX (NYSE:RTX) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a $140.00 price target on the stock, up from their prior price target of $131.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 20.98% from the stock’s current price.

Several other analysts have also weighed in on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $178.67.

RTX Trading Up 0.4 %

RTX opened at $115.72 on Thursday. RTX has a twelve month low of $83.96 and a twelve month high of $128.70. The company has a fifty day moving average of $119.24 and a 200-day moving average of $116.35. The stock has a market cap of $154.03 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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 the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that RTX will post 5.56 EPS for the current year.

Institutional Trading of RTX

A number of institutional investors have recently added to or reduced their stakes in RTX. LRI Investments LLC boosted its holdings in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares during the period. Napa Wealth Management bought a new stake in RTX in the third quarter worth $1,307,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of RTX in the 3rd quarter valued at about $953,000. Finally, Point72 Hong Kong Ltd lifted its position in RTX by 83.5% in the third quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after purchasing an additional 37,671 shares during the last quarter. 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.