RTX (NYSE:RTX) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of RTX (NYSE:RTX) from a neutral rating to an outperform rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $160.00 price objective on the stock, up from their previous price objective of $136.00.

A number of other analysts have also recently weighed in on the stock. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $147.00 in a research report on Monday, February 24th. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Down 1.6 %

RTX stock opened at $132.35 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $176.70 billion, a PE ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78. RTX has a 12 month low of $94.19 and a 12 month high of $135.74. The firm has a 50 day simple moving average of $127.15 and a 200 day simple moving average of $122.54.

RTX (NYSE:RTX) last released its earnings results 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 return on equity of 12.45% and a net margin of 5.91%. Equities research analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in RTX in the fourth quarter worth approximately $1,745,644,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi lifted its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares during the period. Finally, Capital Wealth Planning LLC bought a new position in shares of RTX during the fourth quarter valued at about $216,340,000. 86.50% of the stock is currently owned by institutional investors.

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.