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

StockNews.com upgraded shares of RTX (NYSE:RTX) from a hold rating to a buy rating in a research note published on Friday.

RTX has been the subject of several other reports. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, July 26th. TD Cowen boosted their target price on RTX from $115.00 to $142.00 and gave the stock a buy rating in a research report on Friday, July 26th. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Bank of America upgraded RTX from a neutral rating to a buy rating and upped their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $153.47.

RTX Price Performance

RTX stock opened at $118.47 on Friday. RTX has a 52 week low of $68.56 and a 52 week high of $123.70. The business has a 50-day simple moving average of $112.14 and a 200 day simple moving average of $104.23. 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 stock has a market cap of $157.59 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping 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 business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that RTX will post 5.45 earnings per share for the current fiscal year.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 in the last ninety days. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RTX. RFG Advisory LLC raised its position in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new position in shares of RTX in the 4th quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX in the 4th quarter worth approximately $672,000. Gryphon Financial Partners LLC bought a new position in shares of RTX in the 4th quarter worth approximately $474,000. Finally, Edge Capital Group LLC raised its position in shares of RTX by 37.7% in the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after acquiring an additional 51,735 shares in 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.