RTX (NYSE:RTX) Upgraded by StockNews.com to Buy

RTX (NYSE:RTX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other equities research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the company 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. Finally, TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.33.

RTX Price Performance

RTX traded down $0.64 during trading hours on Thursday, hitting $100.63. The company’s stock had a trading volume of 6,955,380 shares, compared to its average volume of 7,543,147. The business’s 50-day moving average price is $104.44 and its 200-day moving average price is $95.34. RTX has a 12 month low of $68.56 and a 12 month high of $108.65. The stock has a market cap of $133.78 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 1.78 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share 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 company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts expect that RTX will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 over the last three months. 0.13% of the stock is owned by company insiders.

Institutional Trading of RTX

Several hedge funds have recently modified their holdings of RTX. RFG Advisory LLC increased its holdings in shares of RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. acquired a new position in shares of RTX during the fourth quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new position in shares of RTX during the fourth quarter valued at about $672,000. Mather Group LLC. increased its holdings in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC acquired a new position in shares of RTX during the fourth quarter valued at about $2,438,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.