Melius Research Increases RTX (NYSE:RTX) Price Target to $493.00

RTX (NYSE:RTX) had its price objective hoisted by Melius Research from $490.00 to $493.00 in a research report report published on Wednesday morning.

Several other research analysts also recently weighed in on the stock. Robert W. Baird lifted their target price on shares of RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on shares of RTX from $119.00 to $141.00 and gave the company an overweight rating in a research report on Friday, May 17th. Barclays boosted their price objective on shares of RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Finally, Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of Hold and an average price target of $148.69.

RTX Stock Up 0.4 %

NYSE RTX opened at $113.95 on Wednesday. The company’s 50 day simple moving average is $104.47 and its 200 day simple moving average is $98.31. The company has a market capitalization of $151.50 billion, a P/E ratio of 44.69, a PEG ratio of 2.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.79. RTX has a 12 month low of $68.56 and a 12 month high of $115.82.

RTX (NYSE:RTX) last released its earnings results 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 business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Equities research analysts expect that RTX will post 5.42 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Transactions at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several large investors have recently bought and sold shares of the stock. PFG Investments LLC increased its holdings in RTX by 11.6% in the 4th quarter. PFG Investments LLC now owns 6,537 shares of the company’s stock valued at $550,000 after buying an additional 682 shares during the period. IFG Advisory LLC increased its holdings in RTX by 4.5% in the 4th quarter. IFG Advisory LLC now owns 33,037 shares of the company’s stock valued at $2,780,000 after buying an additional 1,411 shares during the period. Planned Solutions Inc. bought a new stake in RTX in the 4th quarter valued at $30,000. Verum Partners LLC increased its holdings in RTX by 25.8% in the 4th quarter. Verum Partners LLC now owns 3,749 shares of the company’s stock valued at $315,000 after buying an additional 770 shares during the period. Finally, MJP Associates Inc. ADV increased its holdings in RTX by 131.1% in the 4th quarter. MJP Associates Inc. ADV now owns 11,069 shares of the company’s stock valued at $931,000 after buying an additional 6,280 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.