RTX (NYSE:RTX) Price Target Raised to $142.00 at TD Cowen

RTX (NYSE:RTX) had its target price increased by TD Cowen from $115.00 to $142.00 in a report released on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Bank of America raised their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Susquehanna raised their price target on RTX from $119.00 to $140.00 and gave the stock a positive rating in a research report on Friday. Finally, Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $148.59.

RTX Trading Up 0.4 %

Shares of RTX stock opened at $114.44 on Friday. The company has a 50-day moving average of $104.65 and a two-hundred day moving average of $98.60. RTX has a 12-month low of $68.56 and a 12-month high of $115.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $152.23 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, research analysts anticipate that RTX will post 5.42 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of large investors have recently modified their holdings of RTX. Bear Mountain Capital Inc. acquired a new position in RTX during the fourth quarter valued at approximately $25,000. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter worth $26,000. Planned Solutions Inc. acquired a new stake in RTX in the 4th quarter valued at $30,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX in the fourth quarter valued at about $38,000. 86.50% of the stock is currently owned by hedge funds and other 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.