Bank of America Raises RTX (NYSE:RTX) Price Target to $110.00

RTX (NYSE:RTX) had its price target increased by Bank of America from $100.00 to $110.00 in a report published on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities analysts have also commented on RTX. Wells Fargo & Company reissued an overweight rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Susquehanna raised their price target on RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. TheStreet upgraded RTX from a c rating to a b- rating in a report on Tuesday, January 23rd. Finally, Barclays raised their price target on RTX from $75.00 to $90.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $96.27.

RTX Stock Performance

Shares of RTX stock opened at $101.41 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $134.83 billion, a P/E ratio of 39.77, a P/E/G ratio of 1.84 and a beta of 0.88. The business has a fifty day simple moving average of $95.57 and a two-hundred day simple moving average of $87.61. RTX has a 12 month low of $68.56 and a 12 month high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities analysts forecast that RTX will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 in the last three months. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RTX

A number of large investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX during the 3rd quarter valued at about $28,000. Planned Solutions Inc. purchased a new position in shares of RTX during the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.