RTX Co. (NYSE:RTX) Position Boosted by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC increased its position in RTX Co. (NYSE:RTX) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,745 shares of the company’s stock after buying an additional 2,531 shares during the period. RTX accounts for 0.8% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 28th largest holding. Clear Harbor Asset Management LLC’s holdings in RTX were worth $10,270,000 at the end of the most recent quarter.

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

RTX Trading Up 0.7 %

Shares of RTX opened at $121.30 on Tuesday. The firm has a market cap of $161.45 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 1.93 and a beta of 0.81. The firm has a 50 day moving average price of $118.03 and a 200-day moving average price of $117.84. 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 fifty-two week low of $84.43 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. As a group, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RTX shares. Susquehanna dropped their price objective on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Six research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.