RTX (NYSE:RTX) Upgraded to Strong-Buy at Vertical Research

RTX (NYSE:RTX) was upgraded by equities research analysts at Vertical Research to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Trading Up 3.2 %

RTX stock opened at $129.14 on Tuesday. RTX has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $118.97 and its 200-day moving average is $119.00. The firm has a market cap of $171.89 billion, a P/E ratio of 36.38, a P/E/G ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX will post 6.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RTX

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Jennison Associates LLC lifted its position in shares of RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after purchasing an additional 993,273 shares during the period. Fisher Asset Management LLC increased its position in shares of RTX by 4.8% during the third 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. Finally, Janus Henderson Group PLC raised its stake in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after buying an additional 702,699 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.