Concord Asset Management LLC VA purchased a new position in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,035 shares of the company's stock, valued at approximately $698,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Czech National Bank grew its stake in RTX by 7.0% in the third quarter. Czech National Bank now owns 270,983 shares of the company's stock worth $32,832,000 after purchasing an additional 17,645 shares in the last quarter. Abacus Wealth Partners LLC bought a new position in shares of RTX during the 3rd quarter worth $242,000. MRA Advisory Group purchased a new position in shares of RTX during the third quarter valued at $210,000. HBW Advisory Services LLC bought a new stake in shares of RTX in the third quarter valued at about $263,000. Finally, Peoples Bank KS bought a new stake in shares of RTX in the third quarter valued at about $666,000. Hedge funds and other institutional investors own 86.50% of the company's stock.
Shares of RTX stock opened at $129.08 on Friday. The firm's 50 day simple moving average is $119.14 and its two-hundred day simple moving average is $119.20. The firm has a market capitalization of $171.81 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 1.99 and a beta of 0.81. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.
RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts predict that RTX Co. will post 6.1 EPS for the current year.
A number of research analysts have commented on the stock. TD Cowen raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and upped their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded RTX from a "hold" rating to a "buy" rating and lifted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus price target of $163.07.
Get Our Latest Stock Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider RTX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RTX wasn't on the list.
While RTX currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.