UBS Group Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX - Free Report) had its price target upped by UBS Group from $133.00 to $138.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also issued reports on RTX. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Wednesday. Argus raised RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Finally, Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, RTX presently has an average rating of "Buy" and a consensus target price of $161.38.

RTX Price Performance

NYSE:RTX traded up $3.46 on Wednesday, hitting $125.43. The company had a trading volume of 6,204,846 shares, compared to its average volume of 5,505,094. The firm has a 50 day moving average of $128.31 and a two-hundred day moving average of $123.74. The stock has a market capitalization of $167.46 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.11 and a beta of 0.58. RTX has a 52 week low of $99.07 and a 52 week high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

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

RTX Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. This represents a 39.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company's stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of RTX

Institutional investors and hedge funds have recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new stake in RTX during the first quarter worth $26,000. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter worth $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Finally, Greenline Partners LLC purchased a new position in RTX during the fourth quarter worth about $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.