Wells Fargo & Company Trims RTX (NYSE:RTX) Target Price to $467.00

RTX (NYSE:RTX) had its target price trimmed by Wells Fargo & Company from $491.00 to $467.00 in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on RTX. Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. StockNews.com raised RTX from a hold rating to a buy rating in a report on Monday, July 15th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $148.69.

RTX Stock Up 0.4 %

Shares of RTX opened at $113.95 on Wednesday. RTX has a 52 week low of $68.56 and a 52 week high of $115.82. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $151.50 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 2.02 and a beta of 0.82. The stock’s 50-day moving average price is $104.47 and its 200-day moving average price is $98.31.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. On average, sell-side analysts predict that RTX will post 5.42 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.21%. RTX’s dividend payout ratio is presently 98.82%.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the 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 completion of the transaction, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors boosted its position in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the period. Capital International Investors boosted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the period. Clearbridge Investments LLC boosted its holdings in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the period. Finally, Sanders Capital LLC boosted its holdings in RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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.