RTX (NYSE:RTX) Upgraded at Wells Fargo & Company

RTX (NYSE:RTX) was upgraded by research analysts at Wells Fargo & Company from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley boosted their price target 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. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Price Performance

NYSE:RTX opened at $120.77 on Thursday. 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 stock has a market cap of $160.75 billion, a P/E ratio of 34.51, a PEG ratio of 2.13 and a beta of 0.82. The company has a fifty day moving average price of $122.17 and a 200 day moving average price of $114.02. RTX has a one year low of $79.13 and a one year high of $128.70.

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

Hedge Funds Weigh In On RTX

Several hedge funds have recently added to or reduced their stakes in RTX. Marshall Wace LLP boosted its stake in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC boosted its stake in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the period. Hsbc Holdings PLC lifted its stake in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Company Profile

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.