Morgan Stanley Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its price objective lifted by equities researchers at Morgan Stanley from $130.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 4.53% from the stock’s previous close.

RTX has been the subject of several other reports. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Performance

RTX stock opened at $129.14 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a 1-year low of $88.90 and a 1-year high of $132.43. The business has a 50-day moving average price of $118.97 and a 200 day moving average price of $119.00. The company has a market capitalization of $171.89 billion, a P/E ratio of 36.90, a PEG ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. As a group, equities research analysts forecast that RTX will post 5.56 EPS for the current fiscal year.

Institutional Investors Weigh In On RTX

Institutional investors and hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter worth approximately $29,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the third quarter worth $41,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the 4th quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. 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.