Carnegie Investment Counsel Buys 1,288 Shares of RTX Co. (NYSE:RTX)

Carnegie Investment Counsel lifted its stake in shares of RTX Co. (NYSE:RTX) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 114,519 shares of the company’s stock after acquiring an additional 1,288 shares during the quarter. Carnegie Investment Counsel’s holdings in RTX were worth $13,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elgethun Capital Management raised its holdings in RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the last quarter. Avestar Capital LLC raised its stake in RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after buying an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC lifted its holdings in RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC grew its holdings in RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX opened at $120.38 on Friday. The firm has a market capitalization of $160.22 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.84 and a beta of 0.81. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. The stock has a 50 day moving average price of $118.14 and a two-hundred day moving average price of $117.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. RTX’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley increased 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. Susquehanna dropped their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company upped their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Six investment 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 stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.