Royal Bank of Canada Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its price target upped by Royal Bank of Canada from $140.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.55% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday. Five research 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 company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $161.73.

RTX Stock Down 1.4 %

RTX traded down $1.82 on Wednesday, hitting $126.53. 2,239,036 shares of the company were exchanged, compared to its average volume of 4,488,686. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $168.42 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The firm has a 50-day moving average price of $118.67 and a two-hundred day moving average price of $118.89. RTX has a twelve month low of $88.90 and a twelve month high of $132.43.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, equities analysts predict that RTX will post 5.56 earnings per share for the current year.

Institutional Trading of RTX

Several institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Capital Partners LLC bought a new position in RTX in the 4th quarter worth approximately $349,000. Latitude Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at $226,000. Stonebridge Financial Group LLC purchased a new position in RTX in the 4th quarter worth about $2,189,000. Essex Financial Services Inc. boosted its stake in RTX by 1.1% in the 4th quarter. Essex Financial Services Inc. now owns 76,578 shares of the company’s stock worth $8,862,000 after purchasing an additional 830 shares during the period. Finally, Mill Creek Capital Advisors LLC raised its position in RTX by 12.9% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 3,537 shares of the company’s stock valued at $409,000 after buying an additional 403 shares during the period. 86.50% of the stock is 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.