RTX (NYSE:RTX) Price Target Raised to $156.00

RTX (NYSE:RTX) had its price target increased by analysts at Wells Fargo & Company from $151.00 to $156.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 20.80% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group boosted their price objective on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Trading Up 3.2 %

Shares of RTX stock traded up $4.01 during trading on Thursday, hitting $129.14. 4,314,689 shares of the stock traded hands, compared to its average volume of 4,641,595. The firm has a market capitalization of $171.89 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm’s fifty day moving average price is $118.79 and its 200-day moving average price is $118.93.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. As a group, research analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RTX

Several institutional investors have recently bought and sold shares of RTX. MOKAN Wealth Management Inc. acquired a new stake in RTX in the fourth quarter worth about $694,000. Sheaff Brock Investment Advisors LLC boosted its stake in RTX by 3.1% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 3,886 shares of the company’s stock worth $450,000 after purchasing an additional 118 shares in the last quarter. Allworth Financial LP increased its stake in RTX by 219.0% during the 4th quarter. Allworth Financial LP now owns 135,537 shares of the company’s stock valued at $16,858,000 after purchasing an additional 93,044 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of RTX by 27.5% in the fourth quarter. Principal Securities Inc. now owns 39,439 shares of the company’s stock worth $4,564,000 after buying an additional 8,513 shares during the last quarter. Finally, bLong Financial LLC acquired a new stake in shares of RTX during the fourth quarter worth $615,000. Institutional investors own 86.50% of the company’s stock.

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.