Elevated Capital Advisors LLC Buys New Stake in RTX Co. (NYSE:RTX)

Elevated Capital Advisors LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,262 shares of the company’s stock, valued at approximately $262,000.

A number of other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after buying an additional 355 shares during the last quarter. Federated Hermes Inc. raised its holdings in RTX by 36.1% in 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 during the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of RTX during the 2nd quarter worth $41,000. Black Diamond Financial LLC acquired a new stake in shares of RTX during the second quarter worth $283,000. Finally, Dimensional Fund Advisors LP grew its position in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 2.4 %

Shares of NYSE:RTX opened at $117.85 on Tuesday. The company has a 50 day moving average of $118.18 and a two-hundred day moving average of $117.14. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $156.86 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on RTX shares. Wells Fargo & Company raised their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.