RTX (NYSE:RTX) Price Target Raised to $150.00

RTX (NYSE:RTX) had its price objective raised by Royal Bank of Canada from $140.00 to $150.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group lifted their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Trading Up 0.1 %

Shares of RTX opened at $129.08 on Wednesday. RTX has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $171.81 billion, a P/E ratio of 36.36, a PEG ratio of 1.99 and a beta of 0.81. The firm’s 50-day moving average is $119.14 and its two-hundred day moving average is $119.20.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts predict that RTX will post 6.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RTX

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the period. International Assets Investment Management LLC raised its position 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 worth $206,095,000 after buying an additional 1,686,007 shares during the period. Jennison Associates LLC boosted its holdings in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares during the last quarter. Fisher Asset Management LLC grew its position in RTX by 4.8% during the third 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 acquiring an additional 702,699 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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.