UBS Group Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its price target hoisted by stock analysts at UBS Group from $128.00 to $142.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 11.03% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.20.

RTX Price Performance

RTX traded down $0.46 during midday trading on Wednesday, hitting $127.89. The stock had a trading volume of 780,156 shares, compared to its average volume of 4,400,834. The company has a market cap of $170.23 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX has a 1 year low of $88.90 and a 1 year high of $132.43. The business has a fifty day moving average of $118.67 and a 200 day moving average of $118.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

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 net margin of 5.97% and a return on equity of 11.96%. As a group, equities analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RTX

A number of hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the third quarter worth approximately $29,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter valued at approximately $41,000. Modus Advisors LLC purchased a new stake in RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the fourth quarter worth $40,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 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.