Accurate Wealth Management LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Accurate Wealth Management LLC boosted its holdings in RTX Co. (NYSE:RTX) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,774 shares of the company’s stock after buying an additional 559 shares during the quarter. Accurate Wealth Management LLC’s holdings in RTX were worth $780,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. 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 during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the third quarter worth about $41,000. Kimelman & Baird LLC purchased a new position in shares of RTX during the second quarter worth about $46,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of RTX during the third quarter worth about $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $119.07 on Thursday. The firm has a 50 day moving average of $118.19 and a 200-day moving average of $117.27. RTX Co. has a 12-month low of $84.43 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $158.48 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.87.

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.