RTX (NYSE:RTX) Given New $132.00 Price Target at Citigroup

by · The Markets Daily

RTX (NYSE:RTX – Get Free Report) had its price objective upped by equities researchers at Citigroup from $122.00 to $132.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 7.71% from the company’s previous close.

Other research analysts also recently issued research reports about the company. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.50.

Check Out Our Latest Stock Report on RTX

RTX Trading Down 1.1 %

Shares of NYSE:RTX traded down $1.40 during midday trading on Thursday, reaching $122.55. The company had a trading volume of 1,735,327 shares, compared to its average volume of 6,887,097. The company has a fifty day simple moving average of $119.58 and a two-hundred day simple moving average of $109.11. The firm has a market cap of $162.93 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. RTX has a 1-year low of $72.29 and a 1-year high of $125.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Research analysts predict that RTX will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth about $32,000. Fairman Group LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC increased its stake in RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Company Profile

(Get Free Report)

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.

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