RTX (NYSE:RTX) Given New $150.00 Price Target at Royal Bank of Canada

RTX (NYSE:RTX) had its price objective upped by Royal Bank of Canada from $140.00 to $150.00 in a research report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

RTX has been the topic of a number of other research reports. Barclays boosted their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company boosted their price objective on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $161.73.

RTX Stock Performance

Shares of RTX opened at $125.25 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX has a twelve month low of $88.90 and a twelve month high of $132.43. The firm’s 50 day moving average price is $118.79 and its two-hundred day moving average price is $118.93. The firm has a market cap of $166.71 billion, a P/E ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced 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 5.97% and a return on equity of 11.96%. On average, analysts forecast that RTX will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On RTX

Institutional investors and hedge funds have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the third quarter valued at $29,000. Modus Advisors LLC acquired a new position in shares of RTX in the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX in the fourth quarter valued at $40,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX in the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. 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.