RTX (NYSE:RTX) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of RTX (NYSE:RTX) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $153.00 price target on the stock, up from their prior price target of $132.00.

A number of other analysts have also commented on RTX. Morgan Stanley boosted their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Wells Fargo & Company boosted their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Susquehanna lowered their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Stock Performance

Shares of NYSE:RTX opened at $125.75 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $167.37 billion, a P/E ratio of 35.93, a P/E/G ratio of 1.93 and a beta of 0.81. The business has a 50-day moving average price of $118.08 and a two-hundred day moving average price of $118.01. RTX has a 1-year low of $85.01 and a 1-year high of $128.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 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 the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts predict that RTX will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the third quarter worth about $29,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the 3rd quarter valued at approximately $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. ORG Wealth Partners LLC purchased a new stake in RTX during the 3rd quarter worth approximately $50,000. Finally, Kimelman & Baird LLC purchased a new position in shares of RTX in the second quarter valued at approximately $46,000. 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.