Ignite Planners LLC Acquires 466 Shares of RTX Co. (NYSE:RTX)

Ignite Planners LLC raised its holdings in RTX Co. (NYSE:RTX) by 26.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,222 shares of the company’s stock after buying an additional 466 shares during the period. Ignite Planners LLC’s holdings in RTX were worth $257,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna lowered their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Trading Up 1.4 %

Shares of RTX stock opened at $119.36 on Wednesday. The firm has a market capitalization of $158.87 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.08 and a beta of 0.81. RTX Co. has a twelve month low of $84.43 and a twelve month 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 stock’s fifty day simple moving average is $118.18 and its 200 day simple moving average is $117.14.

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

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.