Wells Fargo & Company Forecasts Strong Price Appreciation for RTX (NYSE:RTX) Stock

RTX (NYSE:RTX - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $136.00 to $144.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 11.73% from the stock's current price.

Several other research firms have also issued reports on RTX. Susquehanna increased their price target on shares of RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.27.

RTX Stock Performance

RTX stock traded down $0.37 during mid-day trading on Tuesday, reaching $128.89. The company had a trading volume of 5,208,962 shares, compared to its average volume of 5,483,696. The company has a 50 day moving average of $128.59 and a 200-day moving average of $123.83. RTX has a 52 week low of $99.07 and a 52 week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $172.07 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.11 and a beta of 0.58.

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

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were 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 in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. boosted its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC raised its stake in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc boosted its stake in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. grew its holdings in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after buying an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its position in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the period. 86.50% of the stock is 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.