Morgan Stanley Upgrades RTX (NYSE:RTX) to Overweight

RTX (NYSE:RTX - Get Free Report) was upgraded by stock analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $135.00 price target on the stock. Morgan Stanley's price objective indicates a potential upside of 18.44% from the stock's previous close.

Several other analysts also recently weighed in on the company. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Vertical Research raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $165.27.

RTX Stock Performance

Shares of NYSE:RTX opened at $113.98 on Wednesday. The company has a market cap of $152.17 billion, a P/E ratio of 32.11, a PEG ratio of 2.11 and a beta of 0.58. RTX has a one year low of $99.07 and a one year high of $136.17. The business's 50-day simple moving average is $128.33 and its 200 day simple moving average is $123.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of RTX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of RTX during the 4th quarter worth $1,745,644,000. GAMMA Investing LLC lifted its holdings in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Amundi increased its stake in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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.

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