Bank of America Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its target price raised by Bank of America from $145.00 to $155.00 in a report published on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on RTX. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

Shares of RTX opened at $129.14 on Thursday. The firm has a market cap of $171.89 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX has a 52-week low of $88.90 and a 52-week high of $132.43. The business’s 50 day moving average price is $118.97 and its two-hundred day moving average price is $119.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts anticipate that RTX will post 6.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter worth $29,000. Western Pacific Wealth Management LP bought a new stake in RTX in the third quarter worth about $41,000. Modus Advisors LLC purchased a new position in RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the 4th quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during 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.