Red Door Wealth Management LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Red Door Wealth Management LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,415 shares of the company’s stock after acquiring an additional 215 shares during the quarter. Red Door Wealth Management LLC’s holdings in RTX were worth $974,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Elgethun Capital Management increased its position in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Avestar Capital LLC boosted its stake in RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC raised its position in shares of RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its position in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RTX. Wells Fargo & Company boosted their target price on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Susquehanna lowered their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.27.

RTX Stock Performance

Shares of RTX stock opened at $126.34 on Friday. The business has a 50-day simple moving average of $118.25 and a 200-day simple moving average of $118.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a one year low of $88.70 and a one year high of $128.70. The company has a market cap of $168.17 billion, a PE ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX 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.