RTX (NYSE:RTX) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of RTX (NYSE:RTX) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat reports. They currently have $140.00 price target on the stock, up from their previous price target of $110.00.

Other research analysts have also recently issued research reports about the stock. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Susquehanna lifted their price target on RTX from $119.00 to $140.00 and gave the company a positive rating in a research note on Friday, July 26th. Alembic Global Advisors raised RTX from a neutral rating to an overweight rating and set a $134.00 price target for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on RTX from $110.00 to $130.00 and gave the company an overweight rating in a report on Monday, July 29th. Finally, Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the stock a neutral rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $153.47.

RTX Stock Performance

Shares of NYSE RTX opened at $116.45 on Wednesday. The company has a 50 day simple moving average of $105.54 and a two-hundred day simple moving average of $99.28. The stock has a market cap of $154.91 billion, a price-to-earnings ratio of 45.67, a PEG ratio of 2.06 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX has a 12 month low of $68.56 and a 12 month high of $118.30.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period last year, the business earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that RTX will post 5.44 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared 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 of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,213 shares of company stock worth $22,963,593. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RTX

Large investors have recently modified their holdings of the business. Pinnacle Financial Partners Inc increased its holdings in RTX by 6.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 25,488 shares of the company’s stock valued at $2,145,000 after purchasing an additional 1,603 shares during the last quarter. TIAA Trust National Association lifted its stake in RTX by 1.2% during the 4th quarter. TIAA Trust National Association now owns 115,133 shares of the company’s stock worth $9,687,000 after acquiring an additional 1,326 shares in the last quarter. UMB Bank n.a. boosted its holdings in RTX by 1.3% during the 4th quarter. UMB Bank n.a. now owns 118,505 shares of the company’s stock valued at $9,971,000 after acquiring an additional 1,533 shares during the period. Venturi Wealth Management LLC grew its position in RTX by 7.2% in the 4th quarter. Venturi Wealth Management LLC now owns 2,636 shares of the company’s stock valued at $222,000 after acquiring an additional 178 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in RTX by 18.8% during the fourth quarter. Ballentine Partners LLC now owns 30,086 shares of the company’s stock worth $2,531,000 after purchasing an additional 4,765 shares during the period. Institutional investors and hedge funds 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.