Matthew Goff Investment Advisor LLC Purchases 3,430 Shares of RTX Co. (NYSE:RTX)

Matthew Goff Investment Advisor LLC grew its position in shares of RTX Co. (NYSE:RTX) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,860 shares of the company’s stock after acquiring an additional 3,430 shares during the period. RTX comprises 1.3% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 24th largest position. Matthew Goff Investment Advisor LLC’s holdings in RTX were worth $5,471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in RTX in the first quarter worth about $27,000. Quarry LP bought a new position in RTX in the first quarter worth about $28,000. Pin Oak Investment Advisors Inc. raised its stake in RTX by 60.5% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock worth $36,000 after buying an additional 133 shares in the last quarter. Rebalance LLC bought a new position in RTX in the fourth quarter worth about $36,000. Finally, Tanglewood Legacy Advisors LLC bought a new position in RTX in the fourth quarter worth about $41,000. 79.06% of the stock is owned by institutional investors.

RTX Trading Down 0.1 %

Shares of RTX stock opened at $75.14 on Tuesday. RTX Co. has a 12-month low of $73.62 and a 12-month high of $108.84. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $86.75 and its 200 day moving average is $93.86. The stock has a market capitalization of $109.37 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.87 and a beta of 0.97.

RTX (NYSE:RTX) last issued its 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 net margin of 7.88% and a return on equity of 9.98%. The company had revenue of $18.32 billion for the quarter, compared to analysts’ expectations of $17.68 billion. During the same quarter last year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts expect that RTX Co. will post 4.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RTX shares. Melius downgraded shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Monday, September 11th. Wells Fargo & Company decreased their target price on shares of RTX from $100.00 to $78.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 target price (down previously from $110.00) on shares of RTX in a research note on Wednesday, July 26th. Finally, Royal Bank of Canada downgraded shares of RTX from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $82.00 in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.