RTX (NYSE:RTX) Upgraded by Royal Bank of Canada to Outperform Rating

Royal Bank of Canada upgraded shares of RTX (NYSE:RTX) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $140.00 target price on the stock, up from their prior target price of $130.00.

Several other research firms have also issued reports on RTX. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Susquehanna increased their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $177.93.

RTX Stock Performance

Shares of RTX stock opened at $115.25 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market cap of $153.40 billion, a PE ratio of 32.93, a P/E/G ratio of 2.08 and a beta of 0.80. RTX has a 12 month low of $81.37 and a 12 month high of $128.70. The company’s fifty day simple moving average is $120.89 and its 200-day simple moving average is $115.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that RTX will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently bought and sold shares of the business. Lantz Financial LLC raised its stake in RTX by 8.0% during the 2nd quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock valued at $277,000 after acquiring an additional 204 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in RTX by 20.2% during the second quarter. Cornerstone Wealth Group LLC now owns 3,035 shares of the company’s stock valued at $305,000 after purchasing an additional 509 shares during the last quarter. Diversified LLC bought a new stake in shares of RTX during the 2nd quarter worth $203,000. Everhart Financial Group Inc. lifted its position in shares of RTX by 19.8% in the second quarter. Everhart Financial Group Inc. now owns 6,095 shares of the company’s stock worth $612,000 after purchasing an additional 1,006 shares in the last quarter. Finally, TrueWealth Advisors LLC purchased a new position in RTX during the second quarter valued at approximately $201,000. 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.