RTX (NYSE:RTX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

RTX (NYSE:RTX) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $140.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.99% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna lowered their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.60.

RTX Stock Up 2.5 %

RTX stock opened at $128.21 on Wednesday. The stock has a market capitalization of $170.65 billion, a P/E ratio of 36.63, a P/E/G ratio of 1.99 and a beta of 0.81. RTX has a 52 week low of $88.90 and a 52 week high of $132.43. The firm has a 50-day simple moving average of $118.67 and a 200-day simple moving average of $118.89. 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 (NYSE:RTX) last posted its quarterly earnings data 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 return on equity of 11.96% and a net margin of 5.97%. Equities analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the period. International Assets Investment Management LLC raised its holdings in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after buying an additional 1,686,007 shares during the period. Jennison Associates LLC lifted its stake in RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares in the last quarter. Fisher Asset Management LLC boosted its holdings 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 acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC increased its stake in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.