Burney Co. Acquires 458 Shares of RTX Co. (NYSE:RTX)

Burney Co. grew its stake in RTX Co. (NYSE:RTX) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,238 shares of the company’s stock after acquiring an additional 458 shares during the period. Burney Co.’s holdings in RTX were worth $14,030,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna decreased their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley raised 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. Wells Fargo & Company upped their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

Shares of RTX opened at $120.12 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The company has a market cap of $159.88 billion, a P/E ratio of 34.32, a PEG ratio of 2.08 and a beta of 0.81. The firm’s 50 day moving average price is $118.18 and its 200 day moving average price is $117.14.

RTX (NYSE:RTX) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.56 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.