Wells Fargo & Company Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective raised by Wells Fargo & Company from $140.00 to $151.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday. Finally, Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

RTX Stock Performance

NYSE:RTX opened at $116.02 on Wednesday. The firm has a market capitalization of $154.42 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business’s fifty day moving average price is $118.36 and its 200 day moving average price is $116.71. RTX has a 12 month low of $84.43 and a 12 month high of $128.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. On average, sell-side analysts anticipate that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RTX. LRI Investments LLC grew its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management purchased a new stake in RTX during the third quarter worth $1,307,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of RTX during the 3rd quarter worth $953,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of RTX by 83.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after buying an additional 37,671 shares in 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.