Barclays Increases RTX (NYSE:RTX) Price Target to $100.00

RTX (NYSE:RTX) had its price objective raised by Barclays from $90.00 to $100.00 in a research note published on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

RTX has been the subject of a number of other research reports. TD Cowen boosted their price target on RTX from $106.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday, March 19th. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the company a neutral rating in a report on Monday, April 8th. TheStreet raised shares of RTX from a c rating to a b- rating in a research report on Tuesday, January 23rd. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a positive rating in a report on Wednesday, April 24th. Finally, Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $96.93.

RTX Stock Performance

Shares of RTX stock opened at $101.39 on Tuesday. RTX has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock’s 50-day moving average is $96.48 and its two-hundred day moving average is $88.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market cap of $134.80 billion, a P/E ratio of 39.76, a PEG ratio of 1.82 and a beta of 0.84.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that RTX will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 92.55%.

Insider Buying and Selling at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, 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 Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,842 shares of company stock valued at $13,603,426. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RTX

Institutional investors have recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new position in RTX during the 4th quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX during the third quarter valued at approximately $28,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. raised its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares in the last quarter. Institutional investors 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.