Cranbrook Wealth Management LLC Has $721,000 Stake in RTX Co. (NYSE:RTX)

Cranbrook Wealth Management LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,233 shares of the company’s stock after purchasing an additional 225 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in RTX were worth $721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RTX. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the third quarter worth about $41,000. Modus Advisors LLC acquired a new stake in RTX in the 4th quarter valued at approximately $39,000. ORG Wealth Partners LLC bought a new stake in RTX in the 3rd quarter valued at approximately $50,000. Finally, Kimelman & Baird LLC acquired a new position in RTX during the 2nd quarter worth approximately $46,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Wells Fargo & Company lifted 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. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Up 0.7 %

RTX opened at $121.30 on Friday. The stock’s fifty day simple moving average is $118.10 and its 200 day simple moving average is $117.45. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The stock has a market cap of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings data 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. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, research analysts expect that RTX Co. will post 5.55 earnings per share 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.