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

RTX (NYSE:RTX) had its target price hoisted by Bank of America from $100.00 to $110.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently issued reports on RTX. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, TheStreet raised shares of RTX from a c rating to a b- rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of Hold and an average price target of $96.27.

RTX Stock Down 0.3 %

RTX stock opened at $101.40 on Wednesday. The company has a market cap of $134.81 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88. RTX has a 52 week low of $68.56 and a 52 week high of $103.89. The company’s 50-day moving average price is $95.57 and its 200 day moving average price is $87.51. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, research analysts expect that RTX will post 5.4 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Large investors have recently made changes to their positions in the business. Vigilare Wealth Management boosted its stake in shares of RTX by 9.8% in the first quarter. Vigilare Wealth Management now owns 7,909 shares of the company’s stock valued at $771,000 after purchasing an additional 705 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC boosted its stake in shares of RTX by 0.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 25,653 shares of the company’s stock valued at $2,502,000 after purchasing an additional 225 shares during the period. Conning Inc. boosted its stake in shares of RTX by 3.8% in the first quarter. Conning Inc. now owns 425,674 shares of the company’s stock valued at $41,436,000 after purchasing an additional 15,468 shares during the period. Fonville Wealth Management LLC purchased a new position in shares of RTX in the first quarter valued at $685,000. Finally, Signature Wealth Management Partners LLC boosted its stake in shares of RTX by 3.9% in the first quarter. Signature Wealth Management Partners LLC now owns 11,501 shares of the company’s stock valued at $1,122,000 after purchasing an additional 436 shares during the period. 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.