RTX (NYSE:RTX) Upgraded by Baird R W to “Strong-Buy” Rating

RTX (NYSE:RTX) was upgraded by equities research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

NYSE RTX opened at $135.47 on Wednesday. The company has a market cap of $180.86 billion, a PE ratio of 38.16, a P/E/G ratio of 2.11 and a beta of 0.78. The firm’s 50 day moving average price is $126.43 and its 200-day moving average price is $122.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX has a 52-week low of $94.08 and a 52-week high of $136.01.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts forecast that RTX will post 6.11 EPS for the current fiscal year.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently bought and sold shares of RTX. 10Elms LLP purchased a new stake in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management boosted its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $34,000. Finally, Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.