RTX (NYSE:RTX) Price Target Raised to $180.00

RTX (NYSE:RTX - Free Report) had its price target boosted by Morgan Stanley from $165.00 to $180.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

RTX has been the subject of a number of other research reports. Citigroup boosted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report 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. Finally, DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of "Moderate Buy" and a consensus target price of $154.88.

RTX Stock Up 1.1%

RTX traded up $1.64 during trading on Wednesday, hitting $156.86. The stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. RTX has a twelve month low of $112.27 and a twelve month high of $157.33. The stock has a 50 day simple moving average of $143.48 and a two-hundred day simple moving average of $132.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $209.96 billion, a PE ratio of 34.47, a PEG ratio of 2.86 and a beta of 0.64.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend payout ratio is currently 59.78%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred 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 transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,530 shares of company stock worth $3,080,191 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RTX. Bay Capital Advisors LLC bought a new stake in RTX during the 1st quarter worth approximately $224,000. Dynamic Advisor Solutions LLC boosted its holdings in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after buying an additional 2,686 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the last quarter. LBP AM SA boosted its holdings in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after buying an additional 41,990 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock valued at $51,741,000 after buying an additional 5,356 shares during 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.