Gunderson Capital Management Inc. Makes New $5.05 Million Investment in RTX Co. (NYSE:RTX)

Gunderson Capital Management Inc. bought a new stake in shares of RTX Co. (NYSE:RTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,582 shares of the company’s stock, valued at approximately $5,053,000. RTX makes up about 3.3% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of RTX in the fourth quarter valued at about $1,580,608,000. Moneta Group Investment Advisors LLC increased its stake in RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. Sanders Capital LLC purchased a new position in shares of RTX in the first quarter valued at approximately $769,926,000. Morgan Stanley boosted its stake in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after acquiring an additional 3,104,282 shares during the last quarter. Finally, Capital World Investors increased its position in shares of RTX by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. 79.06% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.4 %

NYSE:RTX traded up $0.30 during midday trading on Friday, reaching $75.80. The company had a trading volume of 16,049,827 shares, compared to its average volume of 7,307,043. The stock’s fifty day simple moving average is $87.19 and its 200-day simple moving average is $94.08. 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 Co. has a 12-month low of $73.62 and a 12-month high of $108.84. The firm has a market capitalization of $110.33 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.92 and a beta of 0.97.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The company had revenue of $18.32 billion during the quarter, compared to analysts’ expectations of $17.68 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that RTX Co. will post 4.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RTX shares. Royal Bank of Canada lowered shares of RTX from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $82.00 in a report on Tuesday. TD Cowen lowered their target price on RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday. Argus lowered RTX from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reduced their price target on RTX from $115.00 to $100.00 in a report on Wednesday, July 26th. Finally, Melius lowered shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.88.

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.