TruWealth Advisors LLC Buys New Position in RTX Co. (NYSE:RTX)

TruWealth Advisors LLC purchased a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,024 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Ameritas Advisory Services LLC grew its stake in RTX by 59.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 24,759 shares of the company’s stock worth $2,865,000 after acquiring an additional 9,185 shares during the period. HB Wealth Management LLC boosted its holdings in shares of RTX by 1.5% during the fourth quarter. HB Wealth Management LLC now owns 143,805 shares of the company’s stock worth $16,641,000 after purchasing an additional 2,155 shares during the last quarter. Financial & Tax Architects LLC purchased a new stake in shares of RTX in the fourth quarter valued at $5,772,000. Verity & Verity LLC increased its stake in RTX by 6.7% in the fourth quarter. Verity & Verity LLC now owns 240,233 shares of the company’s stock valued at $27,800,000 after purchasing an additional 15,120 shares during the last quarter. Finally, Integrated Investment Consultants LLC lifted its position in RTX by 449.4% during the fourth quarter. Integrated Investment Consultants LLC now owns 17,164 shares of the company’s stock worth $1,986,000 after buying an additional 14,040 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 0.7 %

Shares of NYSE:RTX opened at $121.30 on Friday. The company has a 50 day moving average of $118.10 and a two-hundred day moving average of $117.57. 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. The company has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX) last released 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. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, analysts forecast that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on RTX shares. Citigroup upped their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. UBS Group upped their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX presently has an average 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.