HB Wealth Management LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

HB Wealth Management LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,805 shares of the company’s stock after acquiring an additional 2,155 shares during the period. HB Wealth Management LLC’s holdings in RTX were worth $16,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Acadian Asset Management LLC increased its position in RTX by 26.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after purchasing an additional 355 shares during the period. Federated Hermes Inc. increased its position in RTX by 36.1% during the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after purchasing an additional 2,552 shares during the period. Edgestream Partners L.P. increased its position in RTX by 140.5% during the 2nd quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after purchasing an additional 4,686 shares during the period. E Fund Management Co. Ltd. acquired a new position in RTX during the 2nd quarter worth approximately $201,000. Finally, Intech Investment Management LLC increased its position in RTX by 49.4% during the 2nd quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock worth $3,820,000 after purchasing an additional 12,583 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Susquehanna reduced their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Up 0.7 %

Shares of RTX stock traded up $0.84 during trading hours on Friday, hitting $121.30. 4,182,063 shares of the company’s stock traded hands, compared to its average volume of 3,467,505. The stock has a 50 day simple moving average of $118.10 and a 200-day simple moving average of $117.45. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $161.45 billion, a PE ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. RTX Co. has a twelve month low of $84.43 and a twelve month high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.55 earnings per share for the current fiscal year.

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.