Gradient Investments LLC Raises Stock Holdings in RTX Co. (NYSE:RTX)

Gradient Investments LLC raised its holdings in RTX Co. (NYSE:RTX) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,939 shares of the company’s stock after acquiring an additional 3,302 shares during the quarter. Gradient Investments LLC’s holdings in RTX were worth $16,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in RTX by 94.5% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after buying an additional 156,550 shares during the period. Parkside Financial Bank & Trust grew its stake in RTX by 9.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after acquiring an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. increased its position in shares of RTX by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after acquiring an additional 128 shares during the period. AMI Investment Management Inc. boosted its holdings in shares of RTX by 53.1% in the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after purchasing an additional 12,316 shares during the period. Finally, LSV Asset Management grew its stake in RTX by 1.4% in the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

RTX Trading Up 0.4 %

RTX stock opened at $75.80 on Friday. RTX Co. has a one year low of $73.62 and a one year high of $108.84. The stock has a market cap of $110.33 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.10. The stock has a 50-day moving average of $87.19 and a two-hundred day moving average of $94.05.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $1.16 EPS. RTX’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts anticipate that RTX Co. will post 4.99 EPS for the current fiscal year.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Bank of America cut RTX from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $75.00 in a report on Thursday. Citigroup lowered their price objective on shares of RTX from $113.50 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, July 27th. DZ Bank downgraded shares of RTX from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research report on Thursday. TD Cowen lowered their price target on shares of RTX from $109.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, September 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $95.00 price objective (down previously from $110.00) on shares of RTX in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.88.

About RTX

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.