RTX (NYSE:RTX) Given New $151.00 Price Target at Wells Fargo & Company

RTX (NYSE:RTX) had its price target upped by Wells Fargo & Company from $140.00 to $151.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on RTX. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average price target of $156.87.

RTX Stock Down 0.7 %

RTX opened at $115.06 on Wednesday. The company has a market cap of $153.15 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. RTX has a 1 year low of $84.43 and a 1 year high of $128.70. The firm has a 50 day moving average price of $118.26 and a 200 day moving average price of $116.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Sell-side analysts expect that RTX will post 5.56 earnings per share for the current year.

Institutional Trading of RTX

Several institutional investors have recently bought and sold shares of RTX. Marshall Wace LLP raised its position in RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.