Gradient Investments LLC lifted its position in shares of RTX Co. (NYSE:RTX – Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,939 shares of the company’s stock after buying an additional 3,302 shares during the period. Gradient Investments LLC’s holdings in RTX were worth $16,549,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of RTX by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after buying an additional 156,550 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in RTX by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock valued at $1,091,000 after acquiring an additional 931 shares during the period. Ironwood Wealth Management LLC. increased its stake in RTX by 1.2% in the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after purchasing an additional 128 shares during the period. AMI Investment Management Inc. lifted its position in RTX by 53.1% in the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after purchasing an additional 12,316 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of RTX by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock valued at $14,038,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 79.06% of the company’s stock.
Analysts Set New Price Targets
RTX has been the topic of several analyst reports. Royal Bank of Canada downgraded shares of RTX from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $82.00 in a research note on Tuesday, September 12th. Susquehanna lowered their price objective on shares of RTX from $117.00 to $110.00 in a research note on Wednesday, July 26th. Argus cut shares of RTX from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Melius lowered shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Monday, September 11th. Finally, Citigroup cut their price target on RTX from $113.50 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.88.
Get Our Latest Stock Analysis on RTX
RTX Stock Up 0.4 %
RTX stock opened at $75.80 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.81. RTX Co. has a 1-year low of $73.62 and a 1-year high of $108.84. The stock has a market capitalization of $110.33 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.97. The business has a fifty day moving average price of $87.19 and a 200-day moving average price of $94.05.
RTX (NYSE:RTX – Get Free Report) last posted its earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The business had revenue of $18.32 billion for the quarter, compared to analysts’ expectations of $17.68 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 4.99 earnings per share 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 worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
Further Reading
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