Parsons Capital Management Inc. RI Grows Position in RTX Co. (NYSE:RTX)

Parsons Capital Management Inc. RI grew its holdings in shares of RTX Co. (NYSE:RTX) by 129.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,082 shares of the company’s stock after buying an additional 68,969 shares during the period. Parsons Capital Management Inc. RI’s holdings in RTX were worth $14,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the third quarter valued at approximately $41,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. ORG Wealth Partners LLC purchased a new stake in RTX during the 3rd quarter valued at $50,000. Finally, Kimelman & Baird LLC bought a new stake in shares of RTX in the 2nd quarter worth $46,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 0.8 %

Shares of RTX opened at $125.23 on Monday. The business’s 50 day moving average is $118.38 and its 200 day moving average is $118.54. 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 Co. has a 12-month low of $88.90 and a 12-month high of $128.70. The company has a market capitalization of $166.69 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Susquehanna lowered their target price on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective 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. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $158.27.

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.