RTX (NYSE:RTX) Rating Increased to Buy at StockNews.com

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

A number of other equities research analysts have also recently issued reports on the company. Bank of America upgraded RTX from a neutral rating to a buy rating and boosted their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the company a neutral rating in a research report on Friday, July 26th. TD Cowen upped their price target on RTX from $115.00 to $142.00 and gave the company a buy rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the company a neutral rating in a research report on Monday, July 29th. Finally, Melius Research upped their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, RTX presently has a consensus rating of Hold and an average price target of $153.47.

RTX Price Performance

Shares of NYSE:RTX opened at $121.16 on Friday. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The company’s 50-day moving average is $112.58 and its 200 day moving average is $104.64. The company has a market capitalization of $161.08 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the previous year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that RTX will post 5.45 earnings per share for the current year.

Insiders Place Their Bets

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 value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of RTX

Institutional investors have recently made changes to their positions in the stock. RFG Advisory LLC boosted its stake in shares of RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the period. TCW Group Inc. bought a new position in shares of RTX during the fourth quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $672,000. Gryphon Financial Partners LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $474,000. Finally, Edge Capital Group LLC raised its holdings in shares of RTX by 37.7% during the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after acquiring an additional 51,735 shares in the last quarter. Hedge funds and other 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.