Simon Quick Advisors LLC Raises Stake in RTX Co. (NYSE:RTX)

Simon Quick Advisors LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 16.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,239 shares of the company’s stock after purchasing an additional 901 shares during the quarter. Simon Quick Advisors LLC’s holdings in RTX were worth $722,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $153.00 in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Susquehanna decreased their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. UBS Group lifted their price target 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. 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 research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average target price of $158.27.

RTX Price Performance

Shares of NYSE RTX opened at $124.49 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $165.69 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. RTX Co. has a twelve month low of $87.96 and a twelve month high of $128.70. The business has a 50 day simple moving average of $118.10 and a 200-day simple moving average of $118.06.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current 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.