Fulton Bank N.A. Acquires 3,182 Shares of RTX Co. (NYSE:RTX)

Fulton Bank N.A. increased its stake in RTX Co. (NYSE:RTX) by 14.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,633 shares of the company’s stock after buying an additional 3,182 shares during the period. Fulton Bank N.A.’s holdings in RTX were worth $2,966,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter valued at about $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Modus Advisors LLC purchased a new position in RTX in the fourth quarter valued at approximately $39,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the third quarter worth $50,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX traded up $0.20 during trading on Wednesday, reaching $115.00. The company’s stock had a trading volume of 1,192,318 shares, compared to its average volume of 2,935,067. The stock has a market capitalization of $153.07 billion, a PE ratio of 32.86, a P/E/G ratio of 2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a fifty day moving average of $118.48 and a 200 day moving average of $116.72. RTX Co. has a one year low of $84.43 and a one year high of $128.70.

RTX (NYSE:RTX) last announced its 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 business had revenue of $20.09 billion during 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%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. Analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RTX shares. Susquehanna cut 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. Wells Fargo & Company increased their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.87.

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.