JPMorgan Chase & Co. Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX) had its target price upped by JPMorgan Chase & Co. from $140.00 to $150.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley lifted their price target 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 lifted their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Citigroup upgraded 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. Six investment 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’s stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.73.

RTX Stock Down 2.4 %

RTX stock opened at $125.25 on Wednesday. The stock has a market capitalization of $166.71 billion, a P/E ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX has a one year low of $88.90 and a one year high of $132.43. The company has a 50 day moving average price of $118.79 and a two-hundred day moving average price of $118.93.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the period. International Assets Investment Management LLC lifted its stake in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the period. Jennison Associates LLC lifted its stake in shares of RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares during the period. Fisher Asset Management LLC lifted its stake in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

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.