RTX (NYSE:RTX) Given New $130.00 Price Target at Morgan Stanley

by · The Markets Daily

RTX (NYSE:RTX – Free Report) had its price target boosted by Morgan Stanley from $120.00 to $130.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Wells Fargo & Company decreased their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $168.56.

Read Our Latest Research Report on RTX

RTX Price Performance

NYSE RTX opened at $127.21 on Wednesday. RTX has a 12 month low of $76.96 and a 12 month high of $128.70. The firm has a market capitalization of $169.22 billion, a PE ratio of 36.35, a P/E/G ratio of 2.21 and a beta of 0.82. The company’s 50 day simple moving average is $121.27 and its 200 day simple moving average is $110.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. As a group, equities research analysts forecast that RTX will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On RTX

A number of hedge funds have recently bought and sold shares of RTX. Elgethun Capital Management boosted its stake in RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its position in shares of RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the period. Canal Capital Management LLC grew its stake in shares of RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after acquiring an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC raised its stake in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

About RTX

(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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