RTX Co. (NYSE:RTX) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,374 shares of the company’s stock after acquiring an additional 1,404 shares during the period. Procyon Advisors LLC’s holdings in RTX were worth $4,094,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position 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 buying an additional 355 shares during the period. Federated Hermes Inc. boosted its holdings in RTX by 36.1% during 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 period. Edgestream Partners L.P. grew its position in RTX by 140.5% in 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 in the last quarter. E Fund Management Co. Ltd. purchased a new stake in RTX during the second quarter worth about $201,000. Finally, Meiji Yasuda Life Insurance Co boosted its stake in shares of RTX by 9.7% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,725 shares of the company’s stock valued at $374,000 after purchasing an additional 330 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RTX shares. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

Shares of RTX opened at $120.38 on Friday. The company’s 50 day simple moving average is $118.14 and its 200 day simple moving average is $117.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $160.22 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.84 and a beta of 0.81. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70.

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. On average, sell-side analysts predict that RTX Co. will post 5.55 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.