RTX (NYSE:RTX) Given New $151.00 Price Target at Wells Fargo & Company

RTX (NYSE:RTX) had its price target upped by investment analysts at Wells Fargo & Company from $140.00 to $151.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 30.15% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Citigroup boosted their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.87.

RTX Stock Up 1.1 %

RTX stock opened at $116.02 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX has a 1-year low of $84.43 and a 1-year high of $128.70. The stock has a market capitalization of $154.42 billion, a P/E ratio of 33.15, a P/E/G ratio of 2.08 and a beta of 0.81. The business has a fifty day moving average price of $118.26 and a 200-day moving average price of $116.71.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that RTX will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC raised its position in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares in the last quarter. Napa Wealth Management bought a new stake in RTX during the third quarter worth approximately $1,307,000. Mirae Asset Global Investments Co. Ltd. raised its position in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the period. Kennebec Savings Bank bought a new stake in shares of RTX in the 3rd quarter valued at approximately $953,000. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of RTX by 83.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after purchasing an additional 37,671 shares during the period. 86.50% of the stock is owned by 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.