Founders Capital Management lifted its holdings in RTX Co. (NYSE:RTX – Free Report) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,808 shares of the company’s stock after purchasing an additional 318 shares during the quarter. RTX comprises 2.9% of Founders Capital Management’s holdings, making the stock its 13th biggest position. Founders Capital Management’s holdings in RTX were worth $3,998,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Jackson Hole Capital Partners LLC boosted its holdings in RTX by 0.3% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 39,562 shares of the company’s stock valued at $3,993,000 after acquiring an additional 100 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in RTX by 5.0% in the fourth quarter. Tyler Stone Wealth Management now owns 2,097 shares of the company’s stock valued at $212,000 after acquiring an additional 100 shares during the last quarter. Argent Advisors Inc. boosted its holdings in RTX by 2.8% in the first quarter. Argent Advisors Inc. now owns 3,720 shares of the company’s stock valued at $364,000 after acquiring an additional 100 shares during the last quarter. Legal Advantage Investments Inc. lifted its stake in RTX by 0.5% in the first quarter. Legal Advantage Investments Inc. now owns 18,734 shares of the company’s stock valued at $1,835,000 after buying an additional 101 shares during the period. Finally, Element Wealth LLC lifted its stake in RTX by 3.7% in the first quarter. Element Wealth LLC now owns 2,893 shares of the company’s stock valued at $283,000 after buying an additional 103 shares during the period. 79.06% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Bank of America lowered RTX from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $75.00 in a research note on Thursday. TD Cowen dropped their price target on RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday. Argus lowered RTX from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Melius lowered RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research note on Monday. Finally, Royal Bank of Canada lowered RTX from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $105.00 to $82.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.88.
RTX Stock Up 0.8 %
RTX stock traded up $0.64 during trading on Friday, hitting $76.14. 3,277,059 shares of the company were exchanged, compared to its average volume of 5,393,810. The business’s 50 day moving average is $87.62 and its 200 day moving average is $94.24. RTX Co. has a 52 week low of $73.62 and a 52 week high of $108.84. The company has a market capitalization of $110.82 billion, a P/E ratio of 20.03, a PEG ratio of 1.92 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.
RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.11. RTX had a return on equity of 9.98% and a net margin of 7.88%. The business had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. RTX’s revenue was up 12.3% compared to the same quarter last year. Analysts predict that RTX Co. will post 4.99 earnings per share for the current year.
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.
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