RTX (NYSE:RTX) Price Target Raised to $105.00

RTX (NYSE:RTX) had its target price increased by UBS Group from $103.00 to $105.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on RTX. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, March 19th. Wells Fargo & Company restated an overweight rating and set a $120.00 target price on shares of RTX in a report on Monday, April 1st. Barclays boosted their target price on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the stock a sector perform rating in a report on Monday, January 22nd. Finally, Robert W. Baird boosted their target price on RTX from $94.00 to $105.00 and gave the stock a neutral rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RTX presently has an average rating of Hold and a consensus price target of $96.27.

RTX Price Performance

Shares of RTX stock opened at $101.40 on Wednesday. RTX has a twelve month low of $68.56 and a twelve month high of $103.89. The business has a 50-day moving average price of $95.57 and a 200 day moving average price of $87.51. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the business earned $1.22 EPS. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts predict that RTX will post 5.4 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 92.55%.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

A number of large investors have recently modified their holdings of RTX. Exchange Traded Concepts LLC increased its position in shares of RTX by 8,351.8% during the third quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock worth $517,000 after acquiring an additional 7,099 shares during the period. Roman Butler Fullerton & Co. increased its holdings in RTX by 5.1% in the third quarter. Roman Butler Fullerton & Co. now owns 3,614 shares of the company’s stock valued at $265,000 after buying an additional 174 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in RTX by 2.8% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,838 shares of the company’s stock valued at $1,500,000 after buying an additional 558 shares during the last quarter. Builder Investment Group Inc. ADV increased its holdings in RTX by 15.5% in the third quarter. Builder Investment Group Inc. ADV now owns 45,445 shares of the company’s stock valued at $3,271,000 after buying an additional 6,107 shares during the last quarter. Finally, Ballast Inc. increased its holdings in RTX by 17.7% in the third quarter. Ballast Inc. now owns 11,477 shares of the company’s stock valued at $826,000 after buying an additional 1,729 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.