Red Door Wealth Management LLC Purchases 215 Shares of RTX Co. (NYSE:RTX)

Red Door Wealth Management LLC lifted its position in RTX Co. (NYSE:RTX) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,415 shares of the company’s stock after acquiring an additional 215 shares during the quarter. Red Door Wealth Management LLC’s holdings in RTX were worth $974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in shares of RTX by 234.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 51,113 shares of the company’s stock valued at $5,131,000 after acquiring an additional 35,828 shares during the period. AlTi Global Inc. grew its stake in RTX by 4.8% in the second quarter. AlTi Global Inc. now owns 25,482 shares of the company’s stock valued at $2,558,000 after purchasing an additional 1,168 shares during the last quarter. AQR Capital Management LLC raised its holdings in RTX by 23.2% in the second quarter. AQR Capital Management LLC now owns 366,824 shares of the company’s stock worth $36,825,000 after purchasing an additional 69,112 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. Finally, Elgethun Capital Management boosted its holdings in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Price Performance

Shares of RTX opened at $126.34 on Friday. The company has a market capitalization of $168.17 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81. The business’s 50-day moving average is $118.25 and its two-hundred day moving average is $118.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.70 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business earned $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.56 earnings per share for the current 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.