The Goldman Sachs Group Raises RTX (NYSE:RTX) Price Target to $126.00

RTX (NYSE:RTX) had its price target boosted by The Goldman Sachs Group from $114.00 to $126.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, UBS Group lifted their target price on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.12.

RTX Stock Down 0.4%

RTX stock opened at $141.29 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX has a fifty-two week low of $99.07 and a fifty-two week high of $149.26. The stock’s 50 day simple moving average is $134.28 and its 200 day simple moving average is $127.93. The company has a market cap of $188.76 billion, a P/E ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, research analysts expect that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 79.77%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Institutional investors have recently bought and sold shares of the company. National Pension Service grew its stake in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Deutsche Bank AG boosted its position in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after purchasing an additional 936,953 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of RTX in the fourth quarter valued at approximately $3,356,000. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after buying an additional 7,987 shares in the last quarter. 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.