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

RTX (NYSE:RTX) had its price target increased by research analysts at Wells Fargo & Company from $136.00 to $144.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.93% from the company’s previous close.

Several other brokerages also recently issued reports on RTX. Citigroup decreased their price objective on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $165.27.

RTX Trading Up 0.5 %

Shares of NYSE:RTX traded up $0.67 during trading on Tuesday, hitting $129.81. The company had a trading volume of 836,975 shares, compared to its average volume of 5,105,793. The stock has a market cap of $173.31 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a fifty day simple moving average of $128.56 and a two-hundred day simple moving average of $123.68. RTX has a one year low of $99.07 and a one year high of $136.17.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that RTX will post 6.11 earnings per share for the current year.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last quarter. Insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A number of institutional investors have recently bought and sold shares of the stock. 10Elms LLP purchased a new position in shares of RTX in the fourth quarter worth $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter valued at about $34,000. Finally, Modus Advisors LLC acquired a new position in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.