RTX (NYSE:RTX) Upgraded to Buy at StockNews.com

RTX (NYSE:RTX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the stock. Citigroup upped their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays upped their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $153.47.

RTX Trading Down 0.6 %

NYSE:RTX traded down $0.69 during trading hours on Wednesday, hitting $117.27. 3,050,869 shares of the stock were exchanged, compared to its average volume of 7,260,417. The company’s 50 day moving average is $108.04 and its two-hundred day moving average is $101.88. RTX has a twelve month low of $68.56 and a twelve month high of $118.99. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $155.90 billion, a P/E ratio of 45.99, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. On average, sell-side analysts anticipate that RTX will post 5.44 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors grew its stake in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Finally, Sanders Capital LLC grew its stake in shares of RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.