RTX Co. (NYSE:RTX) Shares Purchased by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC raised its stake in RTX Co. (NYSE:RTX) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,969 shares of the company’s stock after purchasing an additional 487 shares during the quarter. RTX comprises approximately 0.8% of KMG Fiduciary Partners LLC’s holdings, making the stock its 29th biggest holding. KMG Fiduciary Partners LLC’s holdings in RTX were worth $9,485,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RTX. Acadian Asset Management LLC lifted its position in RTX by 26.4% during 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. lifted its holdings in shares of 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. Edgestream Partners L.P. boosted 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 stake in RTX in the 2nd quarter valued at $201,000. Finally, Meiji Yasuda Life Insurance Co raised its position in RTX by 9.7% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,725 shares of the company’s stock valued at $374,000 after purchasing an additional 330 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.1 %

Shares of RTX stock opened at $120.38 on Friday. The business has a 50-day moving average price of $118.14 and a 200 day moving average price of $117.30. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The firm has a market cap of $160.22 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.84 and a beta of 0.81. 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 issued its quarterly 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 return on equity of 11.96% and a net margin of 5.97%. The business 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 business earned $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

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.