RTX (NYSE:RTX) Rating Increased to Outperform at Royal Bank of Canada

RTX (NYSE:RTX) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a $140.00 price target on the stock, up from their previous price target of $130.00. Royal Bank of Canada’s price objective suggests a potential upside of 20.19% from the company’s current price.

RTX has been the subject of a number of other reports. Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna raised their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.93.

RTX Trading Up 0.9 %

Shares of RTX stock opened at $116.48 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $155.04 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.08 and a beta of 0.80. RTX has a 12-month low of $81.37 and a 12-month high of $128.70. The firm has a 50-day moving average price of $120.89 and a 200 day moving average price of $115.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business earned $1.25 EPS. RTX’s revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RTX

Hedge funds have recently bought and sold shares of the company. Lantz Financial LLC raised its stake in RTX by 8.0% during the 2nd quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock worth $277,000 after buying an additional 204 shares during the period. Cornerstone Wealth Group LLC raised its position in shares of RTX by 20.2% during the second quarter. Cornerstone Wealth Group LLC now owns 3,035 shares of the company’s stock worth $305,000 after purchasing an additional 509 shares during the period. Diversified LLC acquired a new stake in shares of RTX during the second quarter worth about $203,000. Everhart Financial Group Inc. lifted its holdings in shares of RTX by 19.8% during the 2nd quarter. Everhart Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $612,000 after purchasing an additional 1,006 shares in the last quarter. Finally, TrueWealth Advisors LLC acquired a new position in shares of RTX in the 2nd quarter valued at approximately $201,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.