RTX (NYSE:RTX) Price Target Increased to $130.00 by Analysts at Royal Bank of Canada

RTX (NYSE:RTX) had its price target upped by Royal Bank of Canada from $115.00 to $130.00 in a research report released on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms also recently issued reports on RTX. Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $168.56.

RTX Trading Up 1.3 %

NYSE:RTX opened at $127.21 on Wednesday. The firm has a fifty day simple moving average of $121.27 and a two-hundred day simple moving average of $110.91. RTX has a 12 month low of $76.96 and a 12 month high of $128.70. The stock has a market capitalization of $169.22 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Analysts expect that RTX will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently added to or reduced their stakes in the business. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the second quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the second quarter valued at about $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX during the third quarter worth about $50,000. 86.50% of the stock is currently owned by institutional investors.

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.