Wells Fargo & Company Issues Pessimistic Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective lowered by investment analysts at Wells Fargo & Company from $156.00 to $136.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 5.89% from the company’s current price.

RTX has been the subject of a number of other reports. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Bank of America boosted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.07.

RTX Stock Up 6.6 %

RTX stock opened at $128.44 on Tuesday. RTX has a 1-year low of $99.07 and a 1-year high of $136.17. The firm has a market capitalization of $171.48 billion, a price-to-earnings ratio of 36.18, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $128.62 and a 200 day simple moving average of $123.49.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts predict that RTX will post 6.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last three months. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Hedge funds and other institutional investors have recently modified their holdings of the company. RFG Advisory LLC increased its position in shares of RTX by 0.5% during the first quarter. RFG Advisory LLC now owns 19,996 shares of the company’s stock valued at $2,649,000 after buying an additional 95 shares during the period. Capital Asset Advisory Services LLC increased its position in shares of RTX by 4.9% during the first quarter. Capital Asset Advisory Services LLC now owns 29,351 shares of the company’s stock valued at $3,908,000 after buying an additional 1,369 shares during the period. Merit Financial Group LLC increased its position in shares of RTX by 14.4% during the first quarter. Merit Financial Group LLC now owns 72,919 shares of the company’s stock valued at $9,659,000 after buying an additional 9,151 shares during the period. Harbor Investment Advisory LLC increased its position in shares of RTX by 3.2% during the first quarter. Harbor Investment Advisory LLC now owns 14,089 shares of the company’s stock valued at $1,866,000 after buying an additional 435 shares during the period. Finally, Milestone Asset Management LLC increased its position in shares of RTX by 2.9% during the first quarter. Milestone Asset Management LLC now owns 4,650 shares of the company’s stock valued at $616,000 after buying an additional 131 shares during the period. 86.50% of the stock is owned by 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.