Vertical Research Upgrades RTX (NYSE:RTX) to Strong-Buy

RTX (NYSE:RTX) was upgraded by equities researchers at Vertical Research to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the company. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley upped their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Up 3.2 %

RTX opened at $129.14 on Tuesday. The stock has a market capitalization of $171.89 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX has a one year low of $88.90 and a one year high of $132.43. The business’s 50-day simple moving average is $118.97 and its 200-day simple moving average is $119.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts anticipate that RTX will post 6.1 EPS for the current year.

Institutional Trading of RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter valued at $40,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the 3rd quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC raised its position in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the period. 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.