RTX (NYSE:RTX) Price Target Raised to $153.00 at Barclays

Key Points

• Barclays has increased the price target for RTX (NYSE:RTX) from $130.00 to $153.00, maintaining an "equal weight" rating, suggesting a potential downside of 2.71% from the current stock price.
• Several analysts have set price targets for RTX, with Bank of America raising its target to $175.00 and Sanford C. Bernstein settling at $154.00, indicating a generally optimistic outlook.
• RTX reported earnings that surpassed expectations, with $1.56 earnings per share for the most recent quarter, along with a year-over-year revenue increase of 9.4% to $21.58 billion.

RTX (NYSE:RTX - Get Free Report) had its price objective raised by stock analysts at Barclays from $130.00 to $153.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential downside of 1.85% from the company's current price.

Several other research firms have also recently commented on RTX. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Susquehanna lifted their target price on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Price Performance

Shares of RTX stock traded down $1.69 during trading on Tuesday, hitting $155.88. 737,102 shares of the company were exchanged, compared to its average volume of 5,370,341. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock has a market capitalization of $208.66 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 2.92 and a beta of 0.64. The firm has a 50 day moving average price of $145.20 and a 200 day moving average price of $133.94.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, equities analysts expect that RTX will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,234 shares of company stock valued at $4,439,755 in the last quarter. Company insiders own 0.15% of the company's stock.

Institutional Trading of RTX

A number of institutional investors have recently added to or reduced their stakes in RTX. Vanguard Group Inc. lifted its holdings in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares in the last quarter. Geode Capital Management LLC lifted its holdings in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Northern Trust Corp lifted its holdings in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after buying an additional 997,806 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after buying an additional 3,164,844 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in RTX by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after buying an additional 104,139 shares in the last quarter. 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.