RTX (NYSE:RTX) Price Target Raised to $110.00 at Citigroup

RTX (NYSE:RTX) had its price target increased by equities research analysts at Citigroup from $95.00 to $110.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 9.14% from the company’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Stock Down 0.6 %

NYSE:RTX traded down $0.59 during mid-day trading on Wednesday, hitting $100.79. The company had a trading volume of 5,331,470 shares, compared to its average volume of 8,223,425. The business has a fifty day simple moving average of $94.97 and a 200-day simple moving average of $87.12. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX has a 1 year low of $68.56 and a 1 year high of $103.89. The firm has a market capitalization of $134.02 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that RTX will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock worth $3,448,188. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the fourth quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of RTX during the third quarter worth approximately $28,000. Planned Solutions Inc. acquired a new stake in shares of RTX during the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. increased its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 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.