RTX (NYSE:RTX) Upgraded at StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note issued to investors on Friday.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the stock a neutral rating in a research note on Monday, July 29th. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the stock a neutral rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price on RTX from $102.00 to $115.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded RTX from a neutral rating to an overweight rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Finally, Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a positive rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of Hold and an average target price of $153.47.

RTX Stock Performance

Shares of RTX stock opened at $118.44 on Friday. RTX has a one year low of $68.56 and a one year high of $123.70. The firm has a market capitalization of $157.55 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 2.13 and a beta of 0.82. The business has a 50-day simple moving average of $112.14 and a 200 day simple moving average of $104.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. On average, research analysts anticipate that RTX will post 5.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last three months. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of RTX in the second quarter worth approximately $35,285,000. Brown Financial Advisors purchased a new stake in shares of RTX in the second quarter worth approximately $715,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of RTX in the second quarter worth approximately $132,000. Souders Financial Advisors raised its holdings in shares of RTX by 1.5% in the second quarter. Souders Financial Advisors now owns 37,184 shares of the company’s stock worth $3,733,000 after buying an additional 537 shares during the period. Finally, KPP Advisory Services LLC raised its holdings in shares of RTX by 7.2% in the second quarter. KPP Advisory Services LLC now owns 5,203 shares of the company’s stock worth $522,000 after buying an additional 351 shares during the period. 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.