RTX (NYSE:RTX) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other brokerages have also recently commented on RTX. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a positive rating in a research note on Friday, July 26th. Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the company a neutral rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the company a sector perform rating in a research note on Friday, July 26th. Finally, Bank of America raised RTX from a neutral rating to a buy rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $153.47.

RTX Trading Down 1.0 %

Shares of RTX stock opened at $118.47 on Friday. The company has a market cap of $157.59 billion, a P/E ratio of 46.46, a PEG ratio of 2.13 and a beta of 0.82. The stock has a 50 day simple moving average of $112.14 and a two-hundred day simple moving average of $104.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $123.70.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Research analysts forecast that RTX will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

Institutional Trading of RTX

Several hedge funds have recently made changes to their positions in the company. Elgethun Capital Management raised its stake in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the period. Alpha Omega Wealth Management LLC raised its stake in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the period. Motco raised its stake in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the period. D Orazio & Associates Inc. raised its stake in shares of RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after purchasing an additional 99 shares during the period. Finally, Enterprise Bank & Trust Co raised its stake in shares of RTX by 2.9% during the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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.