Morgan Stanley Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its price objective hoisted by equities researchers at Morgan Stanley from $130.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 6.72% from the company’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group lifted their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.73.

RTX Price Performance

NYSE RTX traded down $1.85 on Wednesday, reaching $126.50. 2,239,036 shares of the company’s stock traded hands, compared to its average volume of 4,488,686. The stock has a market cap of $168.37 billion, a PE ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a 12 month low of $88.90 and a 12 month high of $132.43. The stock has a 50-day simple moving average of $118.67 and a 200 day simple moving average of $118.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. As a group, research analysts predict that RTX will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new stake in RTX during the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new position in RTX in the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. Institutional investors 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.