Marcum Wealth LLC Grows Position in RTX Co. (NYSE:RTX)

Marcum Wealth LLC increased its position in RTX Co. (NYSE:RTX) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,988 shares of the company’s stock after buying an additional 1,229 shares during the quarter. Marcum Wealth LLC’s holdings in RTX were worth $1,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the third quarter valued at about $29,000. Modus Advisors LLC bought a new stake in shares of RTX in the fourth quarter worth about $39,000. Fairfield Financial Advisors LTD purchased a new position in RTX during the 2nd quarter valued at about $41,000. Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter valued at approximately $41,000. Finally, Kimelman & Baird LLC purchased a new stake in RTX in the 2nd quarter worth approximately $46,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RTX shares. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Up 2.4 %

RTX stock opened at $117.85 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $118.18 and a 200 day moving average of $117.14. RTX Co. has a twelve month low of $84.43 and a twelve month high of $128.70. The firm has a market cap of $156.86 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.