DMC Group LLC grew its holdings in shares of RTX Co. (NYSE:RTX – Free Report) by 53.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,333 shares of the company’s stock after buying an additional 1,862 shares during the quarter. DMC Group LLC’s holdings in RTX were worth $522,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in RTX. Mather Group LLC. lifted its stake in RTX by 31.8% during the fourth quarter. Mather Group LLC. now owns 11,212 shares of the company’s stock worth $1,132,000 after purchasing an additional 2,704 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in RTX by 13.0% during the 1st quarter. Banque Pictet & Cie SA now owns 19,106 shares of the company’s stock worth $1,871,000 after acquiring an additional 2,200 shares during the period. Cypress Asset Management Inc. TX lifted its position in shares of RTX by 6.9% during the 1st quarter. Cypress Asset Management Inc. TX now owns 38,884 shares of the company’s stock valued at $3,808,000 after acquiring an additional 2,513 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of RTX by 4.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,951,711 shares of the company’s stock valued at $8,016,000 after acquiring an additional 202,376 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of RTX by 46.7% during the first quarter. Avantax Advisory Services Inc. now owns 123,768 shares of the company’s stock worth $12,121,000 after acquiring an additional 39,387 shares in the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on RTX shares. Royal Bank of Canada downgraded RTX from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $105.00 to $82.00 in a research report on Tuesday, September 12th. JPMorgan Chase & Co. cut their price target on shares of RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, September 13th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays downgraded RTX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $75.00 in a report on Tuesday, September 12th. Finally, Bank of America downgraded RTX from a “neutral” rating to an “underperform” rating and cut their target price for the company from $95.00 to $75.00 in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.06.
RTX Stock Performance
Shares of NYSE:RTX traded down $0.61 on Tuesday, hitting $74.57. 5,355,077 shares of the company were exchanged, compared to its average volume of 5,492,184. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $86.75 and its 200 day moving average price is $93.86. RTX Co. has a 1-year low of $73.62 and a 1-year high of $108.84. The firm has a market capitalization of $108.54 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.
RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. RTX had a net margin of 7.88% and a return on equity of 9.98%. RTX’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. Sell-side analysts predict that RTX Co. will post 4.99 EPS for the current year.
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.
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