Melius Research Increases RTX (NYSE:RTX) Price Target to $493.00

RTX (NYSE:RTX) had its price objective raised by Melius Research from $490.00 to $493.00 in a research note issued to investors on Wednesday.

RTX has been the subject of a number of other reports. StockNews.com upgraded shares of RTX from a hold rating to a buy rating in a report on Monday, July 15th. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of RTX from $119.00 to $141.00 and gave the company an overweight rating in a report on Friday, May 17th. Finally, Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RTX presently has a consensus rating of Hold and a consensus price target of $148.69.

RTX Stock Performance

Shares of RTX stock opened at $113.95 on Wednesday. The company has a market capitalization of $151.50 billion, a PE ratio of 44.69, a P/E/G ratio of 2.01 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.99. The company has a 50-day simple moving average of $104.47 and a two-hundred day simple moving average of $98.22. RTX has a one year low of $68.56 and a one year high of $115.82.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Research analysts expect that RTX will post 5.42 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.21%. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On RTX

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in RTX in the 4th quarter valued at $25,000. Briaud Financial Planning Inc grew its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in RTX in the 2nd quarter valued at $26,000. Planned Solutions Inc. acquired a new stake in RTX in the 4th quarter valued at $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in RTX in the 4th quarter valued at $38,000. 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.