RTX (NYSE:RTX) Price Target Raised to $110.00 at Citigroup

RTX (NYSE:RTX - Get Free Report) had its price target increased by analysts at Citigroup from $95.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price indicates a potential upside of 8.89% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. TheStreet upgraded shares of RTX from a "c" rating to a "b-" rating in a research report on Tuesday, January 23rd. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the company a "positive" rating in a research report on Wednesday. UBS Group boosted their target price on shares of RTX from $103.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of "Hold" and an average price target of $96.27.

RTX Price Performance

NYSE:RTX traded down $0.36 during trading hours on Wednesday, hitting $101.02. 7,719,137 shares of the stock traded hands, compared to its average volume of 8,257,574. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX has a 1 year low of $68.56 and a 1 year high of $103.89. The company has a market cap of $134.32 billion, a price-to-earnings ratio of 45.10, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The stock has a 50 day moving average price of $95.16 and a 200 day moving average price of $87.21.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Sell-side analysts forecast that RTX will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling at RTX

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

Hedge Funds Weigh In On RTX

Several hedge funds have recently modified their holdings of RTX. Capital Research Global Investors lifted its position in shares of RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company's stock valued at $7,608,822,000 after buying an additional 17,351,313 shares in the last quarter. Capital International Investors lifted its holdings in RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company's stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company's stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Northern Trust Corp lifted its holdings in RTX by 1.9% in the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company's stock valued at $987,871,000 after purchasing an additional 256,215 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company's stock valued at $784,735,000 after purchasing an additional 60,319 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.