RTX (NYSE:RTX) Price Target Raised to $110.00 at Citigroup

RTX (NYSE:RTX) had its target price hoisted by stock analysts at Citigroup from $95.00 to $110.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 9.14% from the company’s previous close.

RTX has been the subject of several other research reports. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Royal Bank of Canada raised their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Susquehanna raised their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $96.27.

RTX Price Performance

NYSE:RTX traded down $0.59 on Wednesday, hitting $100.79. The company had a trading volume of 5,331,470 shares, compared to its average volume of 8,223,425. The stock has a market capitalization of $134.02 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.85 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $94.97 and a two-hundred day moving average of $87.12. RTX has a 52 week low of $68.56 and a 52 week high of $103.89.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, research analysts anticipate that RTX will post 5.39 earnings per share for the current year.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the fourth quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX in the third quarter worth about $28,000. Alaska Permanent Fund Corp purchased a new position in shares of RTX in the first quarter worth about $42,000. Finally, Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. 86.50% of the stock is owned by 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.