Bank of America Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price target hoisted by investment analysts at Bank of America from $145.00 to $155.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 21.46% from the stock’s previous close.

A number of other equities research analysts have also recently commented on RTX. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group raised their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Susquehanna boosted their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.73.

RTX Trading Up 2.0 %

Shares of NYSE:RTX traded up $2.48 during trading hours on Thursday, hitting $127.61. 1,273,849 shares of the company’s stock traded hands, compared to its average volume of 4,478,285. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $169.85 billion, a P/E ratio of 36.48, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The business has a fifty day moving average price of $118.79 and a 200-day moving average price of $118.93. RTX has a 1 year low of $88.90 and a 1 year high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. Equities analysts expect that RTX will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RTX. Adell Harriman & Carpenter Inc. increased its holdings in RTX by 23.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 78,347 shares of the company’s stock worth $9,066,000 after buying an additional 14,828 shares during the last quarter. Blue Trust Inc. increased its stake in shares of RTX by 13.7% in the fourth quarter. Blue Trust Inc. now owns 23,913 shares of the company’s stock valued at $2,767,000 after buying an additional 2,885 shares during the period. Roman Butler Fullerton & Co. increased its stake in shares of RTX by 9.1% in the fourth quarter. Roman Butler Fullerton & Co. now owns 9,684 shares of the company’s stock valued at $1,211,000 after buying an additional 809 shares during the period. Red Cedar Investment Management LLC acquired a new stake in RTX during the 4th quarter valued at approximately $1,173,000. Finally, Kanawha Capital Management LLC increased its position in RTX by 1.6% during the 4th quarter. Kanawha Capital Management LLC now owns 170,442 shares of the company’s stock valued at $19,724,000 after purchasing an additional 2,661 shares during the period. 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.