RTX (NYSE:RTX) Given New $110.00 Price Target at Citigroup

RTX (NYSE:RTX) had its target price upped by Citigroup from $95.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the company. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, March 19th. TheStreet upgraded RTX from a c rating to a b- rating in a research note on Tuesday, January 23rd. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company reaffirmed an overweight rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $96.27.

RTX Price Performance

RTX opened at $101.41 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The firm has a market cap of $134.83 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 1.84 and a beta of 0.88. The stock’s 50-day moving average price is $95.57 and its 200 day moving average price is $87.61. RTX has a 12-month low of $68.56 and a 12-month high of $103.89.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 EPS. As a group, sell-side analysts expect that RTX will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX’s dividend payout ratio is currently 92.55%.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 in the last three months. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RTX

Several hedge funds have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC increased its position in RTX by 7.9% during the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after buying an additional 106 shares in the last quarter. Jacobsen Capital Management increased its position in RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after buying an additional 114 shares in the last quarter. TRUE Private Wealth Advisors increased its position in RTX by 1.2% during the first quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock worth $971,000 after buying an additional 117 shares in the last quarter. Diligent Investors LLC increased its position in RTX by 1.4% during the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after buying an additional 118 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc increased its position in RTX by 1.7% during the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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.