RTX (NYSE:RTX) Price Target Lowered to $136.00 at Wells Fargo & Company

RTX (NYSE:RTX) had its price objective cut by research analysts at Wells Fargo & Company from $156.00 to $136.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.89% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. Finally, Morgan Stanley increased their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.07.

RTX Trading Up 6.6 %

NYSE:RTX opened at $128.44 on Tuesday. The company’s 50 day moving average price is $128.62 and its 200-day moving average price is $123.49. RTX has a 52 week low of $99.07 and a 52 week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $171.48 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 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, equities research analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at RTX

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On RTX

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its stake in RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC grew its stake in RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of RTX in the 4th quarter worth $1,745,644,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Company Profile

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.