RTX (NYSE:RTX) Upgraded to Overweight by Wells Fargo & Company

Wells Fargo & Company upgraded shares of RTX (NYSE:RTXFree Report) from an equal weight rating to an overweight rating in a report released on Thursday morning, MarketBeat reports. Wells Fargo & Company currently has $120.00 target price on the stock, up from their previous target price of $100.00.

A number of other analysts also recently weighed in on the stock. Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. TheStreet upgraded RTX from a c rating to a b- rating in a report on Tuesday, January 23rd. Robert W. Baird restated a neutral rating and set a $94.00 price target (up previously from $88.00) on shares of RTX in a research note on Tuesday, January 16th. UBS Group increased their target price on shares of RTX from $93.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Finally, Redburn Atlantic lowered shares of RTX from an overweight rating to a neutral rating in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $94.18.

Check Out Our Latest Research Report on RTX

RTX Price Performance

RTX opened at $92.93 on Thursday. RTX has a 1 year low of $68.56 and a 1 year high of $104.91. The firm’s fifty day moving average price is $89.65 and its two-hundred day moving average price is $82.85. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The company has a market capitalization of $123.56 billion, a price-to-earnings ratio of 41.49, a P/E/G ratio of 1.65 and a beta of 0.87.

RTX (NYSE:RTXGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. RTX’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. As a group, analysts anticipate that RTX will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Friday, February 23rd will be issued a $0.59 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.54%. RTX’s payout ratio is 105.36%.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred 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 owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of hedge funds have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX in the fourth quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new stake in RTX in the 3rd quarter valued at $28,000. Quarry LP acquired a new position in RTX in the first quarter worth about $28,000. Planned Solutions Inc. acquired a new position in RTX during the fourth quarter worth $30,000. Finally, Financial Gravity Asset Management Inc. lifted its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the period. Institutional investors and hedge funds own 79.06% of the company’s stock.

RTX Company Profile

(Get Free Report)

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.

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Analyst Recommendations for RTX (NYSE:RTX)

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