The Goldman Sachs Group Issues Positive Forecast for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX - Free Report) had its target price increased by The Goldman Sachs Group from $114.00 to $126.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

RTX has been the topic of several other reports. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group lifted their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Up 1.0%

RTX stock traded up $1.36 on Monday, hitting $142.74. 5,407,422 shares of the company's stock were exchanged, compared to its average volume of 5,390,772. RTX has a 12-month low of $99.07 and a 12-month high of $149.26. The firm has a 50 day moving average price of $134.55 and a two-hundred day moving average price of $128.11. 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 stock has a market cap of $190.69 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities research analysts expect that RTX will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is 79.77%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. 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 the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On RTX

Large investors have recently bought and sold shares of the company. National Pension Service increased its stake in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after buying an additional 375,781 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares in the last quarter. Deutsche Bank AG increased its stake in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in RTX during the 4th quarter worth approximately $3,356,000. Finally, Thoroughbred Financial Services LLC increased its stake in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares in the last quarter. 86.50% of the stock is currently 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.