JPMorgan Chase & Co. Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX) had its price objective raised by JPMorgan Chase & Co. from $140.00 to $150.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the company. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. UBS Group upped their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given 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 $163.07.

RTX Stock Up 0.1 %

Shares of NYSE:RTX opened at $129.08 on Wednesday. The company has a market capitalization of $171.81 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a 50 day moving average of $119.14 and a two-hundred day moving average of $119.20. RTX has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results 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%. As a group, analysts forecast that RTX will post 6.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RTX. Ascent Group LLC bought a new position in shares of RTX during the second quarter worth about $251,000. KPP Advisory Services LLC increased its stake in shares of RTX by 7.2% in the second quarter. KPP Advisory Services LLC now owns 5,203 shares of the company’s stock valued at $522,000 after purchasing an additional 351 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of RTX during the second quarter worth approximately $132,000. Brown Financial Advisors bought a new position in RTX in the 2nd quarter worth approximately $715,000. Finally, Sanctuary Advisors LLC acquired a new stake in RTX in the 2nd quarter valued at approximately $35,285,000. 86.50% of the stock is currently owned by institutional investors.

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.