RTX (NYSE:RTX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

RTX (NYSE:RTX) had its target price lifted by Wells Fargo & Company from $140.00 to $151.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

RTX has been the subject of several other reports. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Morgan Stanley upped their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna decreased their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

Shares of NYSE:RTX opened at $116.02 on Wednesday. RTX has a one year low of $84.43 and a one year high of $128.70. The stock has a market cap of $154.42 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The business’s fifty day moving average price is $118.36 and its two-hundred day moving average price is $116.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly 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 company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’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. On average, analysts forecast that RTX will post 5.56 EPS for the current fiscal year.

Institutional Investors Weigh In On RTX

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its stake in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares during the period. Legal & General Group Plc lifted its holdings in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. boosted its position in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after acquiring an additional 417,789 shares in the last quarter. 86.50% of the stock is currently 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.