The Goldman Sachs Group Increases RTX (NYSE:RTX) Price Target to $104.00

RTX (NYSE:RTX) had its price objective raised by The Goldman Sachs Group from $94.00 to $104.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

RTX has been the topic of several other reports. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the stock a positive rating in a report on Friday, July 26th. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a report on Monday. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the company an equal weight rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $153.47.

RTX Stock Down 0.6 %

Shares of RTX stock opened at $116.74 on Monday. The stock’s 50-day simple moving average is $105.33 and its 200-day simple moving average is $99.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $155.29 billion, a PE ratio of 45.78, a P/E/G ratio of 2.07 and a beta of 0.82. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $118.22.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 earnings per share. Equities analysts expect that RTX will post 5.43 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold a total of 198,213 shares of company stock worth $22,963,593 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adell Harriman & Carpenter Inc. raised its position in RTX by 4.6% in the second quarter. Adell Harriman & Carpenter Inc. now owns 63,081 shares of the company’s stock valued at $6,333,000 after purchasing an additional 2,798 shares during the period. Princeton Capital Management LLC acquired a new stake in shares of RTX in the second quarter valued at $261,000. TIAA Trust National Association raised its holdings in shares of RTX by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 116,784 shares of the company’s stock valued at $11,724,000 after buying an additional 2,240 shares during the period. Rockline Wealth Management LLC raised its holdings in shares of RTX by 2.8% in the 2nd quarter. Rockline Wealth Management LLC now owns 30,509 shares of the company’s stock valued at $3,063,000 after buying an additional 827 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of RTX in the 2nd quarter valued at $431,000. Hedge funds and other 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.