RTX (NYSE:RTX) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of RTX (NYSE:RTX) from a sector perform rating to an outperform rating in a report released on Thursday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $140.00 target price on the stock, up from their prior target price of $130.00.

Other analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price 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. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.93.

RTX Trading Up 0.9 %

RTX opened at $116.48 on Thursday. 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 firm has a market cap of $155.04 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.08 and a beta of 0.80. RTX has a 12 month low of $81.37 and a 12 month high of $128.70. The stock has a fifty day moving average price of $120.74 and a 200-day moving average price of $115.76.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Institutional Trading of RTX

Several large investors have recently bought and sold shares of the business. LRI Investments LLC boosted its position in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new position in RTX during the third quarter worth about $1,307,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of RTX in the 3rd quarter valued at approximately $953,000. Finally, Point72 Hong Kong Ltd increased its holdings in shares of RTX by 83.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after buying an additional 37,671 shares during the last quarter. Hedge funds and other institutional investors 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.