Baird R W Upgrades RTX (NYSE:RTX) to Strong-Buy

RTX (NYSE:RTX - Get Free Report) was upgraded by investment analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and raised their price target for the company from $136.00 to $160.00 in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. UBS Group raised shares of RTX from a "neutral" rating to a "buy" rating and raised their price target for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $166.40.

RTX Trading Down 1.6 %

Shares of NYSE RTX traded down $2.12 during midday trading on Wednesday, reaching $132.35. 9,544,708 shares of the stock were exchanged, compared to its average volume of 5,373,375. RTX has a twelve month low of $95.27 and a twelve month high of $135.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a 50 day simple moving average of $127.15 and a 200 day simple moving average of $122.56. The stock has a market capitalization of $176.70 billion, a P/E ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78.

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RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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 analysts expect that RTX will post 6.11 earnings per share for the current year.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business'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 sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last ninety days. Insiders own 0.15% of the company's stock.

Institutional Trading of RTX

A number of institutional investors have recently added to or reduced their stakes in RTX. Norges Bank purchased a new stake in RTX during the fourth quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RTX by 43.1% in the fourth 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 in the last quarter. Amundi lifted its holdings in shares of RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $216,340,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

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.