Fortitude Family Office LLC Raises Holdings in RTX Co. (NYSE:RTX)

Fortitude Family Office LLC boosted its stake in RTX Co. (NYSE:RTX) by 211.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,998 shares of the company’s stock after buying an additional 2,034 shares during the quarter. Fortitude Family Office LLC’s holdings in RTX were worth $347,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter valued at about $39,000. Fairfield Financial Advisors LTD purchased a new position in RTX in the 2nd quarter valued at about $41,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the third quarter worth about $41,000. Finally, Kimelman & Baird LLC acquired a new position in shares of RTX in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 1.1 %

Shares of RTX stock opened at $116.02 on Friday. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $118.26 and its two-hundred day moving average price is $116.71. The stock has a market cap of $154.42 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.08 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.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business 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 business posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. 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. Finally, Susquehanna dropped their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.