Citigroup Boosts RTX (NYSE:RTX) Price Target to $110.00

RTX (NYSE:RTX) had its target price upped by Citigroup from $95.00 to $110.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a positive rating in a report on Wednesday. Bank of America upped their price target on RTX from $100.00 to $110.00 and gave the company a neutral rating in a report on Wednesday. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of Hold and an average price target of $96.27.

RTX Trading Down 0.3 %

NYSE RTX opened at $101.40 on Wednesday. The stock has a market cap of $134.81 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. RTX has a 12 month low of $68.56 and a 12 month high of $103.89. The stock’s fifty day moving average price is $95.57 and its 200-day moving average price is $87.51.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. As a group, equities analysts forecast that RTX will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of RTX

Several institutional investors have recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares in the last quarter. Capital International Investors grew its holdings in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares in the last quarter. Northern Trust Corp grew its holdings in RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after buying an additional 60,319 shares in the last quarter. Hedge funds and other 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.