RTX (NYSE:RTX) Raised to Buy at Bank of America

RTX (NYSE:RTX) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports. The brokerage presently has a $140.00 price objective on the stock, up from their previous price objective of $110.00. Bank of America‘s price objective would suggest a potential upside of 19.92% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. TD Cowen lifted their target price on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. UBS Group lifted their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Trading Down 0.6 %

Shares of NYSE RTX opened at $116.74 on Wednesday. RTX has a twelve month low of $68.56 and a twelve month high of $118.22. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $105.33 and a 200-day simple moving average of $99.07. The stock has a market capitalization of $155.29 billion, a PE ratio of 45.78, a PEG ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results 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. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. On average, equities analysts forecast that RTX will post 5.44 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,213 shares of company stock valued at $22,963,593. 0.13% of the stock is owned by insiders.

Institutional Trading of RTX

Institutional investors and hedge funds have recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the 4th quarter worth approximately $25,000. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the 2nd quarter worth approximately $32,000. Finally, Tennessee Valley Asset Management Partners bought a new position in RTX in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds 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.