RTX (NYSE:RTX) Upgraded by TD Cowen to “Strong-Buy”

TD Cowen upgraded shares of RTX (NYSE:RTX) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.

Several other research firms have also issued reports on RTX. Alembic Global Advisors raised RTX from a neutral rating to an overweight rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the stock a positive rating in a report on Friday, July 26th. StockNews.com upgraded RTX from a hold rating to a buy rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $162.50.

RTX Stock Performance

Shares of NYSE RTX opened at $122.94 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock’s fifty day moving average price is $119.71 and its two-hundred day moving average price is $109.20. RTX has a one year low of $72.29 and a one year high of $125.93. The firm has a market cap of $163.54 billion, a price-to-earnings ratio of 71.06, a P/E/G ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for 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%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities analysts forecast that RTX will post 5.46 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s dividend payout ratio is currently 145.67%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently added to or reduced their stakes in RTX. Capital Research Global Investors grew its stake in RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors boosted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Marshall Wace LLP boosted its position in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after buying an additional 792,830 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in shares of RTX during the fourth quarter valued at approximately $42,506,000. 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.