RTX (NYSE:RTX) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of RTX (NYSE:RTX) from a hold rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

RTX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Trading Up 0.2 %

Shares of RTX stock opened at $120.77 on Thursday. RTX has a 1 year low of $79.13 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50 day moving average price of $122.17 and a 200 day moving average price of $114.09. The company has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX’s dividend payout ratio (DPR) is 72.00%.

Institutional Trading of RTX

A number of institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its holdings in RTX by 68.5% during the 1st quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock valued at $5,232,000 after purchasing an additional 21,800 shares in the last quarter. Earnest Partners LLC lifted its position in shares of RTX by 2.9% during the first quarter. Earnest Partners LLC now owns 8,054 shares of the company’s stock worth $786,000 after purchasing an additional 225 shares during the last quarter. Lavaca Capital LLC grew its stake in RTX by 4.6% in the first quarter. Lavaca Capital LLC now owns 4,985 shares of the company’s stock worth $486,000 after purchasing an additional 221 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in RTX by 0.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 92,700 shares of the company’s stock valued at $9,041,000 after buying an additional 581 shares during the last quarter. Finally, Kinloch Capital LLC raised its stake in RTX by 14.4% during the first quarter. Kinloch Capital LLC now owns 30,993 shares of the company’s stock valued at $3,023,000 after buying an additional 3,895 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.