RTX (NYSE:RTX) Upgraded to “Buy” at Citigroup

RTX (NYSE:RTX) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Benzinga reports. The firm currently has a $153.00 price objective on the stock, up from their prior price objective of $132.00. Citigroup’s target price would suggest a potential upside of 26.14% from the company’s previous close.

A number of other brokerages have also recently issued reports on RTX. Morgan Stanley upped their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Price Performance

NYSE RTX opened at $121.30 on Tuesday. The company has a 50 day moving average price of $118.03 and a two-hundred day moving average price of $117.84. RTX has a 12-month low of $84.43 and a 12-month high of $128.70. The stock has a market capitalization of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, equities analysts predict that RTX will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its stake in RTX by 23.5% during the second quarter. Thrivent Financial for Lutherans now owns 289,915 shares of the company’s stock worth $29,105,000 after acquiring an additional 55,196 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of RTX by 6.8% in the 2nd quarter. ProShare Advisors LLC now owns 183,653 shares of the company’s stock worth $18,437,000 after purchasing an additional 11,770 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of RTX by 3,170.6% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,569 shares of the company’s stock worth $860,000 after purchasing an additional 8,307 shares in the last quarter. Gabelli Funds LLC lifted its holdings in RTX by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 56,640 shares of the company’s stock valued at $5,686,000 after purchasing an additional 3,000 shares during the last quarter. Finally, DRW Securities LLC acquired a new position in RTX in the second quarter valued at about $357,000. 86.50% of the stock is 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.