Wells Fargo & Company Raises RTX (NYSE:RTX) Price Target to $151.00

RTX (NYSE:RTX) had its target price raised by research analysts at Wells Fargo & Company from $140.00 to $151.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 31.68% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Barclays upped their target price 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. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.87.

RTX Price Performance

RTX stock traded down $0.13 during mid-day trading on Wednesday, hitting $114.67. The company had a trading volume of 408,238 shares, compared to its average volume of 2,779,076. The company has a market capitalization of $152.63 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.08 and a beta of 0.81. The company has a 50-day moving average price of $118.48 and a 200 day moving average price of $116.72. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX has a 12-month low of $84.43 and a 12-month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that RTX will post 5.56 earnings per share for the current year.

Institutional Investors Weigh In On RTX

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC raised its position in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Ameriprise Financial Inc. grew its position in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the period. 86.50% of the stock is owned by hedge funds and other 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.