Royal Bank of Canada Increases RTX (NYSE:RTX) Price Target to $115.00

RTX (NYSE:RTX) had its target price increased by Royal Bank of Canada from $102.00 to $115.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 0.95% from the stock’s current price.

Other analysts have also issued reports about the company. Melius Research raised their target price on RTX from $490.00 to $493.00 in a research note on Wednesday. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, Barclays raised their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $147.00.

RTX Price Performance

RTX stock traded up $0.45 during mid-day trading on Friday, hitting $113.92. 383,864 shares of the company were exchanged, compared to its average volume of 7,404,258. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $104.27 and a 200 day moving average of $98.02. RTX has a 1-year low of $68.56 and a 1-year high of $115.82. The company has a market capitalization of $151.46 billion, a PE ratio of 44.67, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that RTX will post 5.4 earnings per share for the current year.

Insiders Place Their Bets

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors have recently modified their holdings of the business. Lynx Investment Advisory bought a new position in shares of RTX during the 2nd quarter valued at about $26,000. Bear Mountain Capital Inc. acquired a new stake in RTX in the 4th quarter valued at approximately $25,000. Planned Solutions Inc. acquired a new stake in RTX in the 4th quarter valued at approximately $30,000. Alaska Permanent Fund Corp acquired a new stake in RTX in the 1st quarter valued at approximately $42,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in RTX in the 4th quarter valued at approximately $38,000. 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.