RTX (NYSE:RTX) Price Target Raised to $165.00

RTX (NYSE:RTX) had its price target lifted by Morgan Stanley from $135.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 9.85% from the company’s current price.

Several other equities analysts have also commented on RTX. JPMorgan Chase & Co. dropped their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, Cowen reissued a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.28.

RTX Stock Up 1.0%

RTX stock opened at $150.20 on Thursday. The company has a market cap of $200.66 billion, a P/E ratio of 44.05, a P/E/G ratio of 2.76 and a beta of 0.64. RTX has a 52 week low of $102.62 and a 52 week high of $150.76. The company’s 50-day moving average price is $140.44 and its 200 day moving average price is $130.98. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, research analysts expect that RTX will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently bought and sold shares of RTX. Bay Capital Advisors LLC bought a new stake in RTX in the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC increased its holdings in RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after buying an additional 2,686 shares during the period. Deutsche Bank AG increased its holdings in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after buying an additional 936,953 shares during the period. LBP AM SA grew its holdings in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after purchasing an additional 41,990 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after purchasing an additional 5,356 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

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.