Sharp Financial Services LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Sharp Financial Services LLC lifted its stake in shares of RTX Co. (NYSE:RTX) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,395 shares of the company’s stock after acquiring an additional 523 shares during the period. Sharp Financial Services LLC’s holdings in RTX were worth $509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC increased its holdings in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new stake in RTX during the 3rd quarter worth approximately $1,307,000. Czech National Bank increased its holdings in 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 purchasing an additional 17,608 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 purchasing an additional 11,354 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in RTX during the 4th quarter worth approximately $8,387,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Down 1.0 %

NYSE:RTX opened at $124.49 on Thursday. RTX Co. has a 12-month low of $87.96 and a 12-month high of $128.70. The firm has a market capitalization of $165.69 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.01 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50 day simple moving average of $118.10 and a 200 day simple moving average of $118.06.

RTX (NYSE:RTX) last announced its earnings results 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 firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

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.