UBS Group Raises RTX (NYSE:RTX) Price Target to $133.00

RTX (NYSE:RTX) had its target price increased by investment analysts at UBS Group from $126.00 to $133.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 5.01% from the company’s current price.

RTX has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.63.

RTX Price Performance

Shares of NYSE RTX traded up $1.12 during mid-day trading on Wednesday, hitting $126.65. 1,316,419 shares of the stock traded hands, compared to its average volume of 6,754,657. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a twelve month low of $76.96 and a twelve month high of $128.70. The company has a market cap of $168.38 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The firm has a 50 day simple moving average of $121.27 and a two-hundred day simple moving average of $110.91.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. As a group, equities research analysts forecast that RTX will post 5.45 EPS for the current fiscal year.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

Several hedge funds have recently added to or reduced their stakes in the company. Dakota Wealth Management grew its stake in RTX by 1.3% in the 3rd quarter. Dakota Wealth Management now owns 32,410 shares of the company’s stock worth $3,927,000 after acquiring an additional 430 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in RTX by 18.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 383,950 shares of the company’s stock worth $46,519,000 after acquiring an additional 60,393 shares in the last quarter. Walker Asset Management LLC purchased a new stake in shares of RTX in the 3rd quarter worth approximately $228,000. Pinnacle West Asset Management Inc. lifted its position in shares of RTX by 4.7% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 3,005 shares of the company’s stock worth $364,000 after purchasing an additional 135 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. 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.