RTX (NYSE:RTX) Price Target Increased to $142.00 by Analysts at TD Cowen

RTX (NYSE:RTX) had its price objective upped by TD Cowen from $115.00 to $142.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

RTX has been the subject of several other reports. StockNews.com upgraded shares of RTX from a hold rating to a buy rating in a report on Monday, July 15th. Bank of America raised their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Finally, Barclays upped their price target on RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $148.59.

RTX Price Performance

NYSE RTX opened at $114.44 on Friday. RTX has a 1 year low of $68.56 and a 1 year high of $115.82. The business’s fifty day moving average is $104.65 and its two-hundred day moving average is $98.60. The stock has a market capitalization of $152.23 billion, a P/E ratio of 44.88, a P/E/G ratio of 2.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that RTX will post 5.42 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.20%. RTX’s dividend payout ratio is currently 98.82%.

Insider Transactions at RTX

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 stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC lifted its position in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. Motco grew its position in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the last quarter. Enterprise Bank & Trust Co increased its stake in shares of RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after purchasing an additional 100 shares during the period. Werlinich Asset Management LLC grew its holdings in RTX by 0.4% in the 2nd quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock valued at $2,698,000 after buying an additional 100 shares during the last quarter. Finally, Founders Capital Management LLC increased its position in RTX by 1.2% in the 2nd quarter. Founders Capital Management LLC now owns 8,369 shares of the company’s stock worth $840,000 after buying an additional 100 shares during the period. 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.