Royal Bank of Canada Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its price objective lifted by stock analysts at Royal Bank of Canada from $140.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 16.15% from the stock’s current price.

RTX has been the topic of a number of other reports. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Susquehanna increased their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Up 3.2 %

RTX stock opened at $129.14 on Wednesday. RTX has a 52 week low of $88.90 and a 52 week high of $132.43. 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 company has a market cap of $171.89 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.99 and a beta of 0.81. The company’s 50-day moving average price is $118.97 and its 200 day moving average price is $119.00.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. On average, research analysts expect that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Trading of RTX

Large investors have recently bought and sold shares of the business. Ascent Group LLC bought a new position in RTX during the 2nd quarter worth about $251,000. KPP Advisory Services LLC boosted its position in shares of RTX by 7.2% during the second quarter. KPP Advisory Services LLC now owns 5,203 shares of the company’s stock worth $522,000 after buying an additional 351 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of RTX during the second quarter worth about $132,000. Brown Financial Advisors acquired a new stake in RTX in the 2nd quarter valued at approximately $715,000. Finally, Sanctuary Advisors LLC bought a new stake in RTX in the 2nd quarter valued at approximately $35,285,000. 86.50% of the stock is owned by 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.