RTX (NYSE:RTX) Price Target Raised to $150.00 at Royal Bank of Canada

RTX (NYSE:RTX) had its price objective boosted by Royal Bank of Canada from $140.00 to $150.00 in a report issued on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Morgan Stanley raised their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $161.73.

RTX Trading Down 2.4 %

Shares of RTX stock opened at $125.25 on Wednesday. The company has a market capitalization of $166.71 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX has a 12-month low of $88.90 and a 12-month high of $132.43. The firm’s 50-day moving average price is $118.79 and its two-hundred day moving average price is $118.93.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. On average, analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RTX

Hedge funds have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter worth approximately $29,000. Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter worth approximately $41,000. Modus Advisors LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter worth approximately $40,000. Finally, Iron Horse Wealth Management LLC raised its holdings in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. 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.