Wells Fargo & Company Increases RTX (NYSE:RTX) Price Target to $144.00

RTX (NYSE:RTX) had its price objective increased by Wells Fargo & Company from $136.00 to $144.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the company. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.27.

RTX Stock Down 0.4 %

Shares of NYSE:RTX opened at $128.59 on Tuesday. RTX has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The firm’s 50 day moving average price is $128.55 and its 200 day moving average price is $123.71. 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 $171.68 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts predict that RTX will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On RTX

Institutional investors and hedge funds have recently modified their holdings of the company. 1620 Investment Advisors Inc. increased its position in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC increased its holdings in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc raised its position in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. lifted its holdings in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its stake in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.