RTX (NYSE:RTX) Price Target Increased to $493.00 by Analysts at Melius Research

RTX (NYSE:RTX) had its price target lifted by stock analysts at Melius Research from $490.00 to $493.00 in a research note issued to investors on Wednesday. Melius Research’s price target suggests a potential upside of 370.87% from the stock’s current price.

RTX has been the subject of a number of other research reports. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Barclays upped their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company lifted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.38.

RTX Trading Down 0.3 %

Shares of RTX stock traded down $0.27 on Wednesday, hitting $104.70. 5,318,019 shares of the company’s stock traded hands, compared to its average volume of 7,386,992. RTX has a one year low of $68.56 and a one year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market capitalization of $139.20 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The firm’s 50-day moving average price is $104.10 and its two-hundred day moving average price is $97.87.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, research analysts expect that RTX will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, 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. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last quarter. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On RTX

Several hedge funds have recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new position in RTX in the 4th quarter valued at approximately $25,000. Lynx Investment Advisory acquired a new position in shares of RTX during the second quarter worth $26,000. Planned Solutions Inc. bought a new stake in shares of RTX in the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new stake in RTX in the fourth quarter valued at $38,000. Finally, Fairman Group LLC bought a new position in RTX during the 4th quarter worth $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.