RTX (NYSE:RTX) Price Target Raised to $156.00 at Wells Fargo & Company

RTX (NYSE:RTX) had its target price boosted by stock analysts at Wells Fargo & Company from $151.00 to $156.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 20.85% from the stock’s previous close.

A number of other research firms have also recently commented on RTX. JPMorgan Chase & Co. boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna upped their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday. UBS Group upped their price objective on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

RTX stock opened at $129.08 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a one year low of $88.90 and a one year high of $132.43. The stock has a market cap of $171.81 billion, a PE ratio of 36.36, a P/E/G ratio of 1.99 and a beta of 0.81. The firm has a 50 day simple moving average of $119.14 and a two-hundred day simple moving average of $119.20.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX will post 6.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new position in shares of RTX in the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the 4th quarter worth about $40,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the 3rd quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring 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.