JPMorgan Chase & Co. Raises RTX (NYSE:RTX) Price Target to $130.00

RTX (NYSE:RTX) had its price target boosted by JPMorgan Chase & Co. from $110.00 to $130.00 in a research report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the company a buy rating in a research note on Friday, July 26th. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the company a neutral rating in a report on Friday, July 26th. Finally, Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RTX currently has an average rating of Hold and a consensus price target of $153.47.

RTX Price Performance

RTX stock opened at $116.74 on Monday. The business has a 50 day simple moving average of $105.33 and a 200-day simple moving average of $99.07. RTX has a 12 month low of $68.56 and a 12 month high of $118.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $155.29 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. Equities analysts predict that RTX will post 5.43 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last three months, insiders sold 198,213 shares of company stock valued at $22,963,593. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX during the second quarter valued at approximately $26,000. Bear Mountain Capital Inc. purchased a new stake in RTX during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter worth $32,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of RTX in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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.