RTX (NYSE:RTX) Price Target Cut to $136.00 by Analysts at Wells Fargo & Company

RTX (NYSE:RTX - Free Report) had its price target reduced by Wells Fargo & Company from $156.00 to $136.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on RTX. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. UBS Group upgraded RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Vertical Research raised shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $164.73.

RTX Stock Up 0.9 %

NYSE RTX traded up $1.17 during mid-day trading on Tuesday, reaching $128.24. 3,654,021 shares of the company's stock traded hands, compared to its average volume of 5,512,213. The company has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX has a 1-year low of $99.07 and a 1-year high of $136.17. The company has a fifty day simple moving average of $128.56 and a 200-day simple moving average of $123.59.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts expect that RTX will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the 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 transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company's stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of RTX

A number of large investors have recently bought and sold shares of RTX. CX Institutional lifted its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company's stock worth $7,539,000 after buying an additional 11,706 shares in the last quarter. National Pension Service boosted its holdings in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after purchasing an additional 375,781 shares during the period. Czech National Bank raised its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company's stock valued at $33,396,000 after acquiring an additional 17,608 shares in the last quarter. Archer Investment Corp boosted its position in shares of RTX by 370.3% during the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after acquiring an additional 4,151 shares during the last quarter. Finally, Optas LLC increased its position in shares of RTX by 114.5% in the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock worth $817,000 after purchasing an additional 3,770 shares during the last quarter. 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.