Somerset Trust Co Grows Stake in RTX Co. (NYSE:RTX)

Somerset Trust Co boosted its position in shares of RTX Co. (NYSE:RTX) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,024 shares of the company’s stock after acquiring an additional 1,294 shares during the quarter. RTX accounts for 1.6% of Somerset Trust Co’s portfolio, making the stock its 22nd biggest holding. Somerset Trust Co’s holdings in RTX were worth $4,169,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC lifted its stake in shares of RTX by 18.1% in the 4th quarter. Merit Financial Group LLC now owns 63,768 shares of the company’s stock worth $7,379,000 after purchasing an additional 9,762 shares during the period. Relyea Zuckerberg Hanson LLC increased its holdings in RTX by 2.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 5,567 shares of the company’s stock valued at $644,000 after buying an additional 119 shares during the last quarter. CNB Bank raised its position in RTX by 5.3% in the fourth quarter. CNB Bank now owns 11,084 shares of the company’s stock worth $1,283,000 after acquiring an additional 561 shares during the period. Saxon Interests Inc. grew its position in shares of RTX by 25.7% during the 4th quarter. Saxon Interests Inc. now owns 3,248 shares of the company’s stock valued at $376,000 after acquiring an additional 665 shares during the period. Finally, Procyon Advisors LLC increased its stake in shares of RTX by 4.1% in the 4th quarter. Procyon Advisors LLC now owns 35,374 shares of the company’s stock worth $4,094,000 after purchasing an additional 1,404 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $121.30 on Friday. The stock’s 50-day moving average price is $118.10 and its 200-day moving average price is $117.45. RTX Co. has a 12-month low of $84.43 and a 12-month high of $128.70. The stock has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.55 EPS for the current fiscal year.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group boosted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.