Abound Wealth Management Raises Holdings in RTX Co. (NYSE:RTX)

Abound Wealth Management grew its holdings in shares of RTX Co. (NYSE:RTX) by 21.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 575 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Abound Wealth Management’s holdings in RTX were worth $66,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Acadian Asset Management LLC grew its holdings in RTX by 26.4% in the 2nd 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 position in RTX by 36.1% during the second quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after purchasing an additional 2,552 shares during the last quarter. Parallel Advisors LLC raised its stake 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 purchasing an additional 381 shares during the period. Thoroughbred Financial Services LLC grew its stake in shares of RTX by 33.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 16,370 shares of the company’s stock valued at $1,643,000 after buying an additional 4,070 shares during the period. Finally, Diversify Wealth Management LLC purchased a new stake in shares of RTX during the 2nd quarter valued at approximately $3,429,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX traded up $2.48 on Monday, hitting $117.59. 3,370,083 shares of the company traded hands, compared to its average volume of 3,626,783. The stock has a market capitalization of $156.51 billion, a PE ratio of 33.60, a PEG ratio of 2.08 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. The company has a 50 day moving average of $118.18 and a 200-day moving average of $117.01. RTX Co. has a 12-month low of $84.43 and a 12-month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the firm posted $1.25 EPS. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

Wall Street Analyst Weigh In

RTX has been the subject of several analyst reports. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna dropped their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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.