South Street Advisors LLC Buys 1,017 Shares of RTX Co. (NYSE:RTX)

South Street Advisors LLC increased its holdings in RTX Co. (NYSE:RTX) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,441 shares of the company’s stock after purchasing an additional 1,017 shares during the period. RTX makes up 2.3% of South Street Advisors LLC’s portfolio, making the stock its 22nd biggest position. South Street Advisors LLC’s holdings in RTX were worth $11,305,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in shares of RTX by 31.8% during the fourth quarter. Mather Group LLC. now owns 11,212 shares of the company’s stock worth $1,132,000 after buying an additional 2,704 shares in the last quarter. Banque Pictet & Cie SA grew its stake in shares of RTX by 13.0% during the first quarter. Banque Pictet & Cie SA now owns 19,106 shares of the company’s stock valued at $1,871,000 after purchasing an additional 2,200 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of RTX by 4.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,951,711 shares of the company’s stock valued at $8,016,000 after purchasing an additional 202,376 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of RTX by 46.7% during the first quarter. Avantax Advisory Services Inc. now owns 123,768 shares of the company’s stock valued at $12,121,000 after purchasing an additional 39,387 shares during the last quarter. Finally, AlphaCore Capital LLC grew its stake in shares of RTX by 19.6% during the fourth quarter. AlphaCore Capital LLC now owns 11,107 shares of the company’s stock valued at $1,121,000 after purchasing an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

RTX Trading Down 2.2 %

Shares of NYSE RTX traded down $1.72 during trading on Tuesday, reaching $75.18. The company had a trading volume of 12,123,159 shares, compared to its average volume of 5,278,864. The company’s fifty day moving average price is $88.98 and its 200-day moving average price is $94.68. RTX Co. has a 12 month low of $73.66 and a 12 month high of $108.84. The stock has a market cap of $109.43 billion, a P/E ratio of 19.86, a PEG ratio of 2.14 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. RTX had a return on equity of 9.98% and a net margin of 7.88%. The firm had revenue of $18.32 billion for the quarter, compared to analyst estimates of $17.68 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reduced their price objective on shares of RTX from $115.00 to $100.00 in a research note on Wednesday, July 26th. Bank of America downgraded shares of RTX from a “buy” rating to a “neutral” rating and cut their price objective for the company from $120.00 to $95.00 in a report on Thursday, July 27th. Argus downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Barclays downgraded shares of RTX from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $100.00 to $75.00 in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $99.67.

RTX Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.