Morgan Stanley Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective hoisted by Morgan Stanley from $130.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 6.72% from the company’s previous close.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.73.

RTX Trading Down 1.4 %

Shares of RTX traded down $1.85 during trading hours on Wednesday, hitting $126.50. 2,239,036 shares of the stock were exchanged, compared to its average volume of 4,488,686. The firm has a market capitalization of $168.37 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The business has a 50-day moving average of $118.67 and a 200-day moving average of $118.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, research analysts expect that RTX will post 5.56 EPS for the current year.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Assenagon Asset Management S.A. grew its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Jennison Associates LLC grew its holdings in RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after buying an additional 993,273 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC grew 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 valued at $118,309,000 after acquiring an additional 702,699 shares in the last quarter. Institutional investors 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.