UBS Group Increases RTX (NYSE:RTX) Price Target to $105.00

RTX (NYSE:RTX) had its price target raised by UBS Group from $103.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

RTX has been the subject of several other reports. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the company an outperform rating in a research report on Tuesday, March 19th. TheStreet raised RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. Finally, Barclays upped their target price on RTX from $75.00 to $90.00 and gave the company an equal weight rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $96.27.

RTX Price Performance

Shares of NYSE RTX opened at $101.41 on Wednesday. The stock’s 50-day moving average is $95.57 and its two-hundred day moving average is $87.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. RTX has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a market cap of $134.83 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Analysts forecast that RTX will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. RTX’s payout ratio is 92.55%.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RTX

Large investors have recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter valued at approximately $30,000. Strengthening Families & Communities LLC purchased a new position in RTX in the 3rd quarter valued at approximately $28,000. Alaska Permanent Fund Corp purchased a new position in RTX in the 1st quarter valued at approximately $42,000. Finally, Financial Gravity Asset Management Inc. increased its stake in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. 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.