RTX (NYSE:RTX) Given New $115.00 Price Target at Royal Bank of Canada

RTX (NYSE:RTX) had its price objective upped by Royal Bank of Canada from $102.00 to $115.00 in a research report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages have also issued reports on RTX. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Barclays increased their target price 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 increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a neutral rating in a research report on Friday. StockNews.com raised shares of RTX from a hold rating to a buy rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $148.69.

RTX Stock Performance

RTX opened at $113.95 on Friday. The firm has a market cap of $151.50 billion, a PE ratio of 44.69, a P/E/G ratio of 2.01 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $104.47 and a 200-day simple moving average of $98.22. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $115.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.12. The business 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%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.29 EPS. As a group, equities analysts predict that RTX will post 5.42 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on 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 completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several institutional investors and hedge funds have recently made changes to their positions in RTX. Bear Mountain Capital Inc. acquired a new position in shares of RTX in the 4th quarter valued at $25,000. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in shares of RTX in the 2nd quarter valued at $26,000. Planned Solutions Inc. bought a new stake in RTX in the 4th quarter valued at $30,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in RTX in the 4th quarter valued at $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.