Royal Bank of Canada Has Lowered Expectations for RTX (NYSE:RTX) Stock Price

RTX (NYSE:RTX - Get Free Report) had its target price reduced by analysts at Royal Bank of Canada from $150.00 to $140.00 in a 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 indicate a potential upside of 16.79% from the company's current price.

A number of other brokerages have also issued reports on RTX. JPMorgan Chase & Co. increased their target price on shares of RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a report on Wednesday. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of "Buy" and a consensus price target of $163.53.

RTX Stock Performance

RTX stock traded up $6.12 during mid-day trading on Wednesday, reaching $119.87. The company had a trading volume of 6,434,904 shares, compared to its average volume of 5,510,599. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX has a one year low of $99.07 and a one year high of $136.17. The stock's 50-day simple moving average is $128.33 and its two-hundred day simple moving average is $123.77. The stock has a market capitalization of $160.04 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.11 and a beta of 0.58.

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

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. Company insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On RTX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. 10Elms LLP bought a new position in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management increased its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new position in RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX in the fourth quarter worth approximately $39,000. 86.50% of the stock is currently owned by institutional investors.

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.

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