RTX (NYSE:RTX) Stock Rating Upgraded by Wells Fargo & Company

RTX (NYSE:RTX) was upgraded by analysts at Wells Fargo & Company from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

RTX has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Up 0.2 %

RTX stock opened at $120.77 on Thursday. The firm’s fifty day simple moving average is $122.17 and its 200-day simple moving average is $114.02. The company has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. 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 12 month low of $79.13 and a 12 month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that RTX will post 5.56 earnings per share for the current year.

Institutional Investors Weigh In On RTX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth about $29,000. Briaud Financial Planning Inc boosted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter worth about $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter worth about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.