Wedmont Private Capital Purchases 1,630 Shares of RTX Co. (NYSE:RTX)

Wedmont Private Capital increased its position in RTX Co. (NYSE:RTX) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,625 shares of the company’s stock after purchasing an additional 1,630 shares during the period. Wedmont Private Capital’s holdings in RTX were worth $1,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in RTX by 26.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after purchasing an additional 355 shares during the last quarter. Federated Hermes Inc. grew its holdings in RTX by 36.1% during the second quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after buying an additional 2,552 shares in the last quarter. Parallel Advisors LLC raised its position in RTX by 1.1% in the 2nd quarter. Parallel Advisors LLC now owns 34,379 shares of the company’s stock valued at $3,451,000 after buying an additional 381 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in RTX by 33.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 16,370 shares of the company’s stock valued at $1,643,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in RTX during the 2nd quarter worth $3,429,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock traded up $1.86 during midday trading on Monday, hitting $116.97. 2,648,746 shares of the company’s stock were exchanged, compared to its average volume of 3,525,484. The stock has a 50-day moving average price of $118.18 and a two-hundred day moving average price of $117.01. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70. The company has a market cap of $155.69 billion, a P/E ratio of 33.42, a PEG ratio of 2.08 and a beta of 0.81. 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 (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 business 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 firm posted $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

RTX Company 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.