JPMorgan Chase & Co. Cuts RTX (NYSE:RTX) Price Target to $145.00

RTX (NYSE:RTX) had its price objective cut by JPMorgan Chase & Co. from $150.00 to $145.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also weighed in on RTX. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, RTX presently has an average rating of “Buy” and an average target price of $161.06.

RTX Stock Up 0.3 %

RTX stock opened at $126.13 on Monday. The stock has a market capitalization of $168.50 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX has a 12 month low of $99.07 and a 12 month high of $136.17. The business has a 50 day simple moving average of $128.37 and a 200-day simple moving average of $123.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. On average, analysts anticipate that RTX will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 73.90%.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CX Institutional boosted its holdings in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after buying an additional 11,706 shares in the last quarter. National Pension Service boosted its holdings in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after buying an additional 375,781 shares in the last quarter. Czech National Bank boosted its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after buying an additional 17,608 shares in the last quarter. Archer Investment Corp boosted its holdings in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares in the last quarter. Finally, Optas LLC raised its position in RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock valued at $817,000 after purchasing an additional 3,770 shares during the last quarter. Institutional investors and hedge funds 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.