Pines Wealth Management LLC Purchases Shares of 6,337 RTX Co. (NYSE:RTX)

Pines Wealth Management LLC purchased a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,337 shares of the company’s stock, valued at approximately $729,000.

Several other large investors also recently made changes to their positions in RTX. Acadian Asset Management LLC boosted its position in shares of RTX by 26.4% during the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after buying an additional 355 shares during the period. Federated Hermes Inc. grew its stake in shares of RTX by 36.1% during the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after acquiring an additional 2,552 shares in the last quarter. One Capital Management LLC raised its holdings in shares of RTX by 115.7% in the second quarter. One Capital Management LLC now owns 6,768 shares of the company’s stock valued at $679,000 after purchasing an additional 3,631 shares during the last quarter. Edgestream Partners L.P. lifted its position in shares of RTX by 140.5% in the second quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after purchasing an additional 4,686 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in RTX during the second quarter worth $5,623,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $119.36 on Wednesday. The company has a market capitalization of $158.87 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. The company has a 50-day simple moving average of $118.18 and a 200 day simple moving average of $117.14.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for 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 firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RTX. UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna decreased their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Six 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.87.

About RTX

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.