RTX (NYSE:RTX) Price Target Increased to $141.00 by Analysts at Wells Fargo & Company

RTX (NYSE:RTX - Free Report) had its price objective increased by Wells Fargo & Company from $119.00 to $141.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday, March 19th. Robert W. Baird increased their target price on RTX from $94.00 to $105.00 and gave the company a neutral rating in a research report on Monday, April 8th. UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, April 24th. TheStreet upgraded shares of RTX from a c rating to a b- rating in a report on Tuesday, January 23rd. Finally, Barclays lifted their price target on RTX from $90.00 to $100.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $98.33.

RTX Trading Down 0.0 %

Shares of NYSE RTX traded down $0.01 during trading hours on Friday, reaching $104.23. The stock had a trading volume of 8,500,902 shares, compared to its average volume of 7,914,467. RTX has a 52-week low of $68.56 and a 52-week high of $107.82. The firm has a market cap of $138.57 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 1.90 and a beta of 0.84. The business's fifty day moving average price is $99.61 and its two-hundred day moving average price is $90.47. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 10.81% and a net margin of 4.90%. The business's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. Analysts expect that RTX will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is a boost from RTX's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.42%. RTX's dividend payout ratio (DPR) is 92.55%.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of the firm's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company's stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the company's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares of the company's stock, valued at $15,757,566. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,042 shares of company stock valued at $12,266,459. Insiders own 0.13% of the company's stock.

Institutional Trading of RTX

Hedge funds have recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC raised its position in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company's stock valued at $10,077,000 after buying an additional 28,910 shares during the period. Mather Group LLC. increased its position in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company's stock valued at $1,153,000 after purchasing an additional 1,079 shares during the period. Rockline Wealth Management LLC acquired a new position in RTX in the fourth quarter worth about $2,438,000. AllGen Financial Advisors Inc. lifted its holdings in shares of RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company's stock valued at $2,720,000 after acquiring an additional 3,657 shares during the period. Finally, PDS Planning Inc acquired a new position in shares of RTX in the 4th quarter worth approximately $356,000. 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.