Royal Bank of Canada Lowers RTX (NYSE:RTX) Price Target to $140.00

RTX (NYSE:RTX - Free Report) had its price target reduced by Royal Bank of Canada from $150.00 to $140.00 in a research note released on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on RTX. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research note on Wednesday. Three 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $161.38.

RTX Trading Up 2.8 %

RTX traded up $3.46 during mid-day trading on Wednesday, hitting $125.43. The stock had a trading volume of 6,204,846 shares, compared to its average volume of 5,505,094. RTX has a 1-year low of $99.07 and a 1-year high of $136.17. The stock's fifty day simple moving average is $128.31 and its 200-day simple moving average is $123.74. The firm has a market capitalization of $167.46 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, research analysts forecast that RTX will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is currently 73.90%.

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RTX

A number of institutional investors and hedge funds have recently modified their holdings of RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the 1st quarter valued at about $26,000. 10Elms LLP bought a new stake in RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the last quarter. Finally, Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter valued at $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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.