AMI Investment Management Inc. Buys 828 Shares of RTX Co. (NYSE:RTX)

AMI Investment Management Inc. increased its stake in RTX Co. (NYSE:RTX) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund owned 36,857 shares of the company’s stock after purchasing an additional 828 shares during the period. RTX makes up about 1.4% of AMI Investment Management Inc.’s portfolio, making the stock its 21st biggest position. AMI Investment Management Inc.’s holdings in RTX were worth $4,265,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RTX. Susquehanna cut their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 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. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. 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 company has an average rating of “Moderate Buy” and an average price target of $156.87.

RTX Price Performance

Shares of NYSE:RTX opened at $121.30 on Monday. The company has a market capitalization of $161.45 billion, a PE ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. The business has a fifty day moving average price of $118.10 and a 200-day moving average price of $117.69. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last issued its 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 net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that RTX Co. will post 5.55 EPS for the current fiscal year.

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.