Bank of America Increases RTX (NYSE:RTX) Price Target to $110.00

RTX (NYSE:RTX) had its target price upped by investment analysts at Bank of America from $100.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 8.10% from the stock’s previous close.

Several other analysts have also recently commented on RTX. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, UBS Group lifted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. 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 MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $96.27.

RTX Stock Up 0.7 %

RTX stock opened at $101.76 on Wednesday. The firm has a 50 day moving average of $95.36 and a 200 day moving average of $87.31. The stock has a market capitalization of $135.30 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX has a 52 week low of $68.56 and a 52 week high of $103.89.

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

Insider Buying and Selling

In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in shares of RTX by 8,351.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock valued at $517,000 after acquiring an additional 7,099 shares during the last quarter. Roman Butler Fullerton & Co. boosted its position in shares of RTX by 5.1% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 3,614 shares of the company’s stock valued at $265,000 after acquiring an additional 174 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of RTX by 2.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,838 shares of the company’s stock valued at $1,500,000 after acquiring an additional 558 shares during the last quarter. Builder Investment Group Inc. ADV boosted its position in shares of RTX by 15.5% during the 3rd quarter. Builder Investment Group Inc. ADV now owns 45,445 shares of the company’s stock valued at $3,271,000 after acquiring an additional 6,107 shares during the last quarter. Finally, Ballast Inc. boosted its position in shares of RTX by 17.7% during the 3rd quarter. Ballast Inc. now owns 11,477 shares of the company’s stock valued at $826,000 after acquiring an additional 1,729 shares during the last quarter. Institutional investors and hedge funds 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.