Wells Fargo & Company Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective upped by Wells Fargo & Company from $151.00 to $156.00 in a research note released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also commented on RTX. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup upgraded shares of 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 research report on Tuesday, January 21st. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Price Performance

NYSE:RTX opened at $129.14 on Thursday. The company 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. The firm’s fifty day moving average price is $118.97 and its two-hundred day moving average price is $119.00. RTX has a one year low of $88.90 and a one year high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.73.

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

Institutional Trading of RTX

Large investors have recently bought and sold shares of the business. MOKAN Wealth Management Inc. acquired a new position in RTX during the fourth quarter worth about $694,000. Sheaff Brock Investment Advisors LLC increased its position in RTX by 3.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 3,886 shares of the company’s stock worth $450,000 after purchasing an additional 118 shares in the last quarter. Allworth Financial LP lifted its stake in RTX by 219.0% in the 4th quarter. Allworth Financial LP now owns 135,537 shares of the company’s stock valued at $16,858,000 after purchasing an additional 93,044 shares during the last quarter. Principal Securities Inc. boosted its position in RTX by 27.5% in the fourth quarter. Principal Securities Inc. now owns 39,439 shares of the company’s stock valued at $4,564,000 after buying an additional 8,513 shares in the last quarter. Finally, bLong Financial LLC bought a new stake in shares of RTX during the fourth quarter worth $615,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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.