RTX (NYSE:RTX) Price Target Increased to $119.00 by Analysts at Susquehanna

RTX (NYSE:RTX) had its price target raised by Susquehanna from $110.00 to $119.00 in a research note published on Wednesday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America raised shares of RTX from an underperform rating to a neutral rating and lifted their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. UBS Group lifted their price target on shares of RTX from $93.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. TheStreet upgraded shares of RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company reiterated an overweight rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $96.27.

RTX Stock Performance

Shares of RTX stock opened at $101.02 on Wednesday. The firm has a market cap of $134.32 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88. The company’s 50 day moving average is $95.16 and its 200 day moving average is $87.21. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that RTX will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. Company insiders own 0.13% of the company’s stock.

Institutional Trading of RTX

Several large investors have recently bought and sold shares of RTX. Capital Research Global Investors grew its stake in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after acquiring an additional 17,351,313 shares in the last quarter. Capital International Investors grew its stake in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Norges Bank purchased a new stake in RTX during the 4th quarter valued at about $690,154,000. Massachusetts Financial Services Co. MA grew its stake in RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after acquiring an additional 6,932,011 shares in the last quarter. Finally, Boston Partners purchased a new stake in RTX during the 3rd quarter valued at about $355,350,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

About RTX

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.