RTX (NYSE:RTX) PT Raised to $132.00 at Citigroup

RTX (NYSE:RTX) had its price target raised by Citigroup from $122.00 to $132.00 in a research report sent to investors on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on RTX from $102.00 to $115.00 and gave the company a sector perform rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of RTX from a hold rating to a buy rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $162.50.

RTX Stock Performance

RTX opened at $123.93 on Thursday. The stock’s 50 day simple moving average is $119.86 and its 200 day simple moving average is $109.58. The stock has a market cap of $164.77 billion, a P/E ratio of 48.60, a P/E/G ratio of 2.18 and a beta of 0.82. RTX has a 1-year low of $72.29 and a 1-year high of $125.93. 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 results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. As a group, equities analysts anticipate that RTX will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given 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 2.03%. RTX’s dividend payout ratio (DPR) is 98.82%.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on 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 directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc grew its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter worth $32,000. Fairman Group LLC bought a new stake in RTX during the fourth quarter valued at $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the period. 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.