RTX (NYSE:RTX) Stock Rating Upgraded by Royal Bank of Canada

RTX (NYSE:RTX) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $140.00 target price on the stock, up from their prior target price of $130.00. Royal Bank of Canada’s target price would suggest a potential upside of 20.19% from the company’s current price.

RTX has been the subject of a number of other reports. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $177.93.

RTX Trading Up 0.9 %

Shares of NYSE:RTX opened at $116.48 on Thursday. RTX has a 12-month low of $81.37 and a 12-month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $155.04 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. The firm has a fifty day moving average of $120.89 and a two-hundred day moving average of $115.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that RTX will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Lantz Financial LLC lifted its position in RTX by 8.0% in the second quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock worth $277,000 after purchasing an additional 204 shares during the period. Cornerstone Wealth Group LLC boosted its position in shares of RTX by 20.2% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 3,035 shares of the company’s stock valued at $305,000 after acquiring an additional 509 shares in the last quarter. Diversified LLC bought a new stake in RTX in the second quarter valued at about $203,000. Everhart Financial Group Inc. raised its position in RTX by 19.8% in the second quarter. Everhart Financial Group Inc. now owns 6,095 shares of the company’s stock worth $612,000 after purchasing an additional 1,006 shares in the last quarter. Finally, TrueWealth Advisors LLC bought a new position in RTX during the second quarter worth about $201,000. 86.50% of the stock is currently owned by 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.