Morgan Stanley Boosts RTX (NYSE:RTX) Price Target to $130.00

RTX (NYSE:RTX) had its price target raised by Morgan Stanley from $120.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company dropped their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $168.56.

RTX Price Performance

RTX stock opened at $125.16 on Wednesday. The company has a 50 day simple moving average of $121.74 and a 200 day simple moving average of $111.28. The stock has a market cap of $166.40 billion, a price-to-earnings ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. RTX has a 1 year low of $77.76 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that RTX will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was 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 $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,856 shares of company stock worth $17,131,253. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several large investors have recently modified their holdings of RTX. Briaud Financial Planning Inc boosted its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter valued at approximately $41,000. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter valued at approximately $50,000. Hedge funds and other 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.