RTX (NYSE:RTX) Price Target Increased to $110.00 by Analysts at Citigroup

RTX (NYSE:RTX) had its price target lifted by Citigroup from $95.00 to $110.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently commented on RTX. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday. Bank of America upped their price target on RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday. Wells Fargo & Company reiterated an overweight rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the company a positive rating in a research note on Wednesday. Finally, TheStreet upgraded RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $96.27.

RTX Trading Down 0.3 %

Shares of RTX stock opened at $101.40 on Wednesday. The firm has a market capitalization of $134.81 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.84 and a beta of 0.88. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. The stock has a 50 day moving average of $95.57 and a 200 day moving average of $87.51.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the prior year, the firm earned $1.22 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that RTX will post 5.4 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is presently 92.55%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its holdings in shares of RTX by 7.9% during the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the last quarter. Jacobsen Capital Management boosted its holdings in RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares in the last quarter. TRUE Private Wealth Advisors boosted its holdings in RTX by 1.2% in the 1st quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock valued at $971,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC boosted its holdings in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after purchasing an additional 118 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc boosted its holdings in RTX by 1.7% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock valued at $715,000 after purchasing an additional 120 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.