RTX (NYSE:RTX) Reaches New 1-Year High on Strong Earnings

RTX Co. (NYSE:RTX) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $131.60 and last traded at $131.87, with a volume of 142313 shares. The stock had previously closed at $125.05.

The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Susquehanna lowered their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. FMR LLC lifted its stake in shares of RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after buying an additional 140,697 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in RTX by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after buying an additional 25,407 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

The company has a 50 day simple moving average of $118.49 and a 200-day simple moving average of $118.70. The stock has a market cap of $174.16 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.99 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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.