Genesis Private Wealth LLC Purchases New Stake in RTX Co. (NYSE:RTX)

Genesis Private Wealth LLC acquired a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,419 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC increased its stake in RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the last quarter. Napa Wealth Management bought a new position in shares of RTX in the 3rd quarter valued at $1,307,000. Czech National Bank raised its holdings in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in RTX in the fourth quarter valued at about $8,387,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 3.8 %

RTX stock opened at $125.75 on Wednesday. The stock has a market cap of $167.37 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 1.93 and a beta of 0.81. The business’s 50-day moving average is $118.08 and its 200 day moving average is $118.01. RTX Co. has a 12-month low of $85.01 and a 12-month high of $128.70. 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 earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on RTX shares. Wells Fargo & Company increased their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price objective on 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 RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Susquehanna lowered their price objective on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.27.

RTX 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.