RTX (NYSE:RTX) Price Target Raised to $151.00

RTX (NYSE:RTX) had its price objective boosted by Wells Fargo & Company from $140.00 to $151.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on RTX. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley increased their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Down 0.7 %

Shares of RTX stock opened at $115.06 on Wednesday. The firm’s 50 day moving average price is $118.26 and its 200-day moving average price is $116.71. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX has a 52-week low of $84.43 and a 52-week high of $128.70. The company has a market cap of $153.15 billion, a P/E ratio of 32.87, a PEG ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts predict that RTX will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On RTX

Institutional investors have recently modified their holdings of the business. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new position in RTX in the 4th quarter valued at $39,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the 2nd quarter worth $41,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the 3rd quarter worth $41,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of RTX in the 2nd quarter worth about $46,000. 86.50% of the stock is 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.