RTX (NYSE:RTX) Price Target Raised to $144.00 at Wells Fargo & Company

RTX (NYSE:RTX) had its target price lifted by Wells Fargo & Company from $136.00 to $144.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $165.27.

RTX Price Performance

NYSE:RTX opened at $128.59 on Tuesday. The firm’s fifty day moving average is $128.55 and its two-hundred day moving average is $123.71. The firm has a market cap of $171.68 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 2.11 and a beta of 0.58. RTX has a one year low of $99.07 and a one year high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts expect that RTX will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. 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, insider Troy D. Brunk sold 2,872 shares of RTX 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 sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This 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 worth $10,309,302 in the last 90 days. Insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management boosted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $34,000. Finally, Modus Advisors LLC purchased a new stake in RTX during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.