RTX (NYSE:RTX) Raised to Strong-Buy at TD Cowen

RTX (NYSE:RTX) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

RTX has been the subject of several other reports. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Susquehanna upped their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.13.

RTX Stock Down 1.3 %

RTX stock opened at $123.48 on Tuesday. The firm has a market cap of $164.26 billion, a PE ratio of 48.42, a P/E/G ratio of 2.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s 50 day moving average price is $119.45 and its two-hundred day moving average price is $109.00. RTX has a twelve month low of $71.82 and a twelve month high of $125.93.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research analysts predict that RTX will post 5.45 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the 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 sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. RFG Advisory LLC lifted its holdings in RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of RTX in the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC lifted its stake in shares of RTX by 7.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares during the period. Finally, CWM LLC lifted its stake in shares of RTX by 7.2% in the 1st quarter. CWM LLC now owns 126,970 shares of the company’s stock valued at $12,383,000 after purchasing an additional 8,493 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.