Bank of America Raises RTX (NYSE:RTX) Price Target to $110.00

RTX (NYSE:RTX) had its price target upped by Bank of America from $100.00 to $110.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also weighed in on the stock. Wells Fargo & Company reiterated an overweight rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Barclays boosted their price target on shares of RTX from $75.00 to $90.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a research note on Wednesday. TD Cowen boosted their price target on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a research note on Tuesday, March 19th. Finally, TheStreet upgraded shares of RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $96.27.

RTX Stock Performance

NYSE:RTX opened at $101.41 on Wednesday. The company has a fifty day moving average of $95.57 and a 200-day moving average of $87.61. The firm has a market capitalization of $134.83 billion, a P/E ratio of 39.77, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX has a twelve month low of $68.56 and a twelve month high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. As a group, sell-side analysts anticipate that RTX will post 5.39 EPS for the current year.

RTX Announces Dividend

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

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

Institutional investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. purchased a new stake in RTX during the fourth quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in RTX during the third quarter valued at about $28,000. Planned Solutions Inc. purchased a new stake in RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its holdings in 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 purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.