Analysts Set RTX Co. (NYSE:RTX) Price Target at $166.40

RTX Co. (NYSE:RTX) has earned an average recommendation of “Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $166.40.

A number of research firms have recently weighed in on RTX. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday. Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $34,000. Finally, Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE RTX opened at $134.46 on Thursday. RTX has a 12-month low of $96.33 and a 12-month high of $136.17. The firm has a market capitalization of $179.52 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $128.12 and a 200 day moving average of $122.87.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. On average, research analysts anticipate that RTX will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

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.