Wells Fargo & Company Increases RTX (NYSE:RTX) Price Target to $156.00

RTX (NYSE:RTX) had its target price boosted by Wells Fargo & Company from $151.00 to $156.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 20.85% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Performance

Shares of RTX stock opened at $129.08 on Thursday. The company has a market cap of $171.81 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $119.14 and a 200-day moving average of $119.20. RTX has a 1-year low of $88.90 and a 1-year high of $132.43.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that RTX will post 6.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in RTX in the second quarter worth about $132,000. Newbridge Financial Services Group Inc. raised its position in RTX by 6.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,662 shares of the company’s stock worth $267,000 after acquiring an additional 159 shares during the period. Mattson Financial Services LLC bought a new stake in RTX in the second quarter worth about $1,257,000. Abacus Planning Group Inc. raised its position in RTX by 7.8% in the third quarter. Abacus Planning Group Inc. now owns 2,986 shares of the company’s stock worth $362,000 after acquiring an additional 215 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in RTX by 2.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 240,719 shares of the company’s stock worth $29,166,000 after acquiring an additional 6,097 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Company Profile

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.