Relyea Zuckerberg Hanson LLC Grows Position in RTX Co. (NYSE:RTX)

Relyea Zuckerberg Hanson LLC raised its position in shares of RTX Co. (NYSE:RTX) by 2.2% during the 4th quarter, Holdings Channel reports. The fund owned 5,567 shares of the company’s stock after purchasing an additional 119 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in RTX were worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at $29,000. Modus Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the 3rd quarter valued at about $41,000. Kimelman & Baird LLC purchased a new position in RTX in the second quarter worth about $46,000. Finally, ORG Wealth Partners LLC bought a new stake in RTX during the third quarter worth approximately $50,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RTX. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group lifted their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley increased 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. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.30 during trading on Friday, hitting $120.76. The stock had a trading volume of 901,185 shares, compared to its average volume of 3,664,717. RTX Co. has a 12-month low of $84.43 and a 12-month high of $128.70. 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 stock has a market capitalization of $160.74 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The stock has a 50-day simple moving average of $118.14 and a two-hundred day simple moving average of $117.30.

RTX (NYSE:RTX) last posted its quarterly 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 analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.55 earnings per share for the current fiscal year.

RTX 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.