RTX Co. (NYSE:RTX) Shares Purchased by Abound Wealth Management

Abound Wealth Management raised its stake in RTX Co. (NYSE:RTX) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575 shares of the company’s stock after buying an additional 102 shares during the period. Abound Wealth Management’s holdings in RTX were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after buying an additional 355 shares in the last quarter. Federated Hermes Inc. increased its holdings in RTX by 36.1% during the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after acquiring an additional 2,552 shares in the last quarter. Parallel Advisors LLC raised its position in RTX by 1.1% during the second quarter. Parallel Advisors LLC now owns 34,379 shares of the company’s stock worth $3,451,000 after acquiring an additional 381 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of RTX by 33.1% in the second quarter. Thoroughbred Financial Services LLC now owns 16,370 shares of the company’s stock valued at $1,643,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of RTX in the second quarter valued at approximately $3,429,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Up 2.2 %

Shares of NYSE RTX traded up $2.48 during midday trading on Monday, hitting $117.59. The stock had a trading volume of 3,370,083 shares, compared to its average volume of 3,626,783. The company has a fifty day moving average price of $118.18 and a 200 day moving average price of $117.01. The company has a market capitalization of $156.51 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 2.08 and a beta of 0.81. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RTX shares. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Susquehanna lowered their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. 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. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.