Private Client Services LLC Raises Holdings in RTX Co. (NYSE:RTX)

Private Client Services LLC lifted its holdings in RTX Co. (NYSE:RTX) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,806 shares of the company’s stock after purchasing an additional 164 shares during the quarter. Private Client Services LLC’s holdings in RTX were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LRI Investments LLC lifted its stake in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management purchased a new position in shares of RTX in the third quarter worth approximately $1,307,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares during the last quarter. Kennebec Savings Bank bought a new position in RTX in the third quarter worth approximately $953,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of RTX by 83.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after acquiring an additional 37,671 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna decreased their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.87.

RTX Price Performance

Shares of NYSE:RTX traded up $0.89 during mid-day trading on Wednesday, reaching $115.69. The stock had a trading volume of 1,681,091 shares, compared to its average volume of 3,018,451. The company has a market cap of $153.99 billion, a P/E ratio of 33.05, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The business’s 50 day moving average price is $118.48 and its 200 day moving average price is $116.72. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the firm posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

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.