JPMorgan Chase & Co. Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX - Free Report) had its price target boosted by JPMorgan Chase & Co. from $145.00 to $175.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

RTX has been the topic of several other research reports. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Finally, UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Six 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 stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.67.

RTX Price Performance

RTX stock traded down $1.30 on Wednesday, hitting $155.19. 4,860,109 shares of the company's stock traded hands, compared to its average volume of 4,936,366. The stock has a market cap of $207.73 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.92 and a beta of 0.64. RTX has a 1-year low of $109.45 and a 1-year high of $157.24. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $143.05 and a 200-day moving average of $132.52.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 EPS. On average, analysts forecast that RTX will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.75%. RTX's payout ratio is 79.77%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following 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 can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new position in RTX during the first quarter worth about $26,000. PFS Partners LLC lifted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after purchasing an additional 89 shares during the period. 10Elms LLP acquired a new stake in RTX during the fourth quarter worth about $29,000. Greenline Partners LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of RTX during the 1st quarter worth approximately $40,000. 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.