RTX (NYSE:RTX – Get Free Report) had its price target raised by investment analysts at Citigroup from $122.00 to $132.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 7.71% from the company’s current price.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada boosted their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Melius Research upped their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.50.
Read Our Latest Stock Analysis on RTX
RTX Price Performance
RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share 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 analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, equities research analysts predict that RTX will post 5.45 earnings per share for the current year.
Insider Buying and Selling at RTX
In other news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.
Institutional Trading of RTX
A number of large investors have recently bought and sold shares of the business. Groupama Asset Managment acquired a new position in RTX in the 4th quarter worth $42,506,000. Fort Sheridan Advisors LLC grew its holdings in shares of RTX by 1.9% during the fourth quarter. Fort Sheridan Advisors LLC now owns 15,154 shares of the company’s stock worth $1,275,000 after buying an additional 287 shares in the last quarter. Financial Network Wealth Advisors LLC acquired a new stake in RTX in the 4th quarter valued at approximately $385,000. Pettyjohn Wood & White Inc. lifted its stake in RTX by 0.3% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 64,080 shares of the company’s stock valued at $5,392,000 after acquiring an additional 175 shares in the last quarter. Finally, Burford Brothers Inc. acquired a new position in RTX during the 4th quarter worth approximately $949,000. 86.50% of the stock is owned by institutional investors.
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.
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