RTX (NYSE:RTX) Upgraded to Buy at StockNews.com

RTX (NYSE:RTX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts also recently commented on RTX. 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 research report on Tuesday, July 30th. Barclays boosted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $153.47.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.69 during trading on Wednesday, reaching $117.27. The company had a trading volume of 3,050,869 shares, compared to its average volume of 7,260,417. The stock’s fifty day moving average price is $108.04 and its 200 day moving average price is $101.88. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $118.99. The firm has a market capitalization of $155.90 billion, a price-to-earnings ratio of 45.99, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that RTX will post 5.44 EPS for the current year.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction 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 stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value 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 $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter worth approximately $32,000. Tennessee Valley Asset Management Partners bought a new stake in shares of RTX in the 4th quarter worth approximately $38,000. Finally, Fairman Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $38,000. 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.