Bank of America Raises RTX (NYSE:RTX) Price Target to $110.00

RTX (NYSE:RTX) had its target price lifted by equities researchers at Bank of America from $100.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 9.41% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Susquehanna raised their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays boosted their price target 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, TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus price target of $95.27.

RTX Price Performance

Shares of NYSE:RTX traded down $0.84 on Wednesday, hitting $100.54. The company’s stock had a trading volume of 4,571,004 shares, compared to its average volume of 8,214,240. RTX has a 1 year low of $68.56 and a 1 year high of $103.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The company has a market capitalization of $133.68 billion, a PE ratio of 44.79, a PEG ratio of 1.85 and a beta of 0.88. The company has a 50-day simple moving average of $94.97 and a 200 day simple moving average of $87.12.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Sell-side analysts forecast that RTX will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 in the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

Several large investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its position in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors boosted its stake in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% in the fourth 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 during the period. Northern Trust Corp lifted its stake in shares of RTX by 1.9% in the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after buying an additional 60,319 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.