UBS Group Increases RTX (NYSE:RTX) Price Target to $177.00

RTX (NYSE:RTX - Get Free Report) had its price objective lifted by UBS Group from $166.00 to $177.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 12.84% from the company's previous close.

A number of other analysts also recently commented on the stock. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup upped their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.88.

RTX Stock Performance

Shares of RTX stock traded up $1.64 during mid-day 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 fifty-two week low of $112.27 and a fifty-two week high of $157.33. The firm has a market cap of $209.96 billion, a PE ratio of 34.47, a PEG ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company's 50-day simple moving average is $143.48 and its 200-day simple moving average is $132.93.

RTX (NYSE:RTX - Get Free Report) last released its 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the business earned $1.41 EPS. The business's revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that RTX will post 6.11 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On RTX

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Geode Capital Management LLC grew its holdings in RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. grew its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Norges Bank acquired a new stake in RTX during the 4th quarter valued at $1,745,644,000. Finally, Northern Trust Corp grew its holdings in RTX by 8.4% during the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Company Profile

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.