Chesapeake Wealth Management Raises Stock Holdings in RTX Co. (NYSE:RTX)

Chesapeake Wealth Management lifted its holdings in shares of RTX Co. (NYSE:RTX) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,726 shares of the company’s stock after acquiring an additional 1,600 shares during the period. Chesapeake Wealth Management’s holdings in RTX were worth $1,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in RTX in the 4th quarter valued at $39,000. Western Pacific Wealth Management LP purchased a new position in RTX during the 3rd quarter worth $41,000. Kimelman & Baird LLC purchased a new stake in shares of RTX in the second quarter valued at about $46,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of RTX during the third quarter worth about $50,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group upped their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Six investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.87.

RTX Price Performance

RTX stock opened at $121.30 on Tuesday. The stock has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The stock’s fifty day simple moving average is $118.03 and its 200-day simple moving average is $117.84. 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.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during 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 firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities research analysts expect that RTX Co. will post 5.56 EPS for the current year.

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.