Foundry Partners LLC Acquires New Position in RTX Co. (NYSE:RTX)

Foundry Partners LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 191,751 shares of the company’s stock, valued at approximately $18,784,000. RTX comprises approximately 1.1% of Foundry Partners LLC’s holdings, making the stock its 20th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P increased its holdings 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 in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of RTX by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock valued at $1,091,000 after purchasing an additional 931 shares during the period. Ironwood Wealth Management LLC. grew its position in RTX by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock valued at $1,066,000 after buying an additional 128 shares during the period. AMI Investment Management Inc. increased its holdings in RTX by 53.1% during the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after buying an additional 12,316 shares during the last quarter. Finally, LSV Asset Management raised its position 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 acquiring an additional 2,000 shares during the period. Institutional investors own 79.06% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $75.17 on Tuesday. RTX Co. has a one year low of $73.62 and a one year high of $108.84. The company has a market capitalization of $109.41 billion, a PE ratio of 19.94, a P/E/G ratio of 1.87 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 company has a 50-day simple moving average of $86.75 and a two-hundred day simple moving average of $93.86.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 firm had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. During the same quarter in the previous year, the business posted $1.16 EPS. RTX’s revenue was up 12.3% on a year-over-year basis. Research analysts expect that RTX Co. will post 4.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. Citigroup reduced their target price on shares of RTX from $113.50 to $95.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. TD Cowen lowered their target price on shares of RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 12th. JPMorgan Chase & Co. cut their price target on RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, September 13th. Wells Fargo & Company dropped their price objective on RTX from $100.00 to $78.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Robert W. Baird lowered their price target on RTX from $115.00 to $100.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.06.

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.