RTX (NYSE:RTX) Price Target Raised to $133.00 at UBS Group

RTX (NYSE:RTX) had its target price increased by UBS Group from $126.00 to $133.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

RTX has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Finally, 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 report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $168.56.

RTX Price Performance

Shares of NYSE RTX opened at $125.16 on Wednesday. The business has a 50 day simple moving average of $121.74 and a 200-day simple moving average of $111.35. RTX has a twelve month low of $77.76 and a twelve month high of $128.70. The company has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth 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 released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that RTX will post 5.5 earnings per share for the current year.

RTX Dividend Announcement

The business 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 $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is 98.82%.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were 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 of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,856 shares of company stock worth $17,131,253. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several institutional investors have recently made changes to their positions in RTX. Briaud Financial Planning Inc raised its position in RTX by 64.1% during 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 in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth $41,000. Finally, Stephens Consulting LLC boosted its holdings in RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.