RTX (NYSE:RTX) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of RTX (NYSE:RTX) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Citigroup currently has $153.00 price objective on the stock, up from their prior price objective of $132.00.

A number of other analysts have also issued reports on RTX. Wells Fargo & Company boosted their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Susquehanna reduced their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.27.

RTX Stock Performance

NYSE:RTX opened at $125.75 on Tuesday. The firm has a market capitalization of $167.37 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 1.93 and a beta of 0.81. RTX has a 1-year low of $85.01 and a 1-year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company’s 50-day moving average is $118.08 and its two-hundred day moving average is $118.01.

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

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RTX. Assenagon Asset Management S.A. lifted its holdings in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the period. Marshall Wace LLP boosted its stake in RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the period. International Assets Investment Management LLC grew its position in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after purchasing an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC raised its stake in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.