Code Waechter LLC Invests $248,000 in RTX Co. (NYSE:RTX)

Code Waechter LLC purchased a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,141 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at approximately $39,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the second quarter worth approximately $41,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the third quarter worth $41,000. Finally, Kimelman & Baird LLC acquired a new position in RTX in the 2nd quarter valued at $46,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RTX shares. Morgan Stanley increased their price target 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. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Six equities research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

RTX Stock Up 2.4 %

Shares of RTX opened at $117.85 on Tuesday. 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 firm has a market cap of $156.86 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company’s fifty day moving average is $118.18 and its two-hundred day moving average is $117.14. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the business posted $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

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.