Ameritas Advisory Services LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Ameritas Advisory Services LLC grew its holdings in RTX Co. (NYSE:RTX) by 59.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,759 shares of the company’s stock after acquiring an additional 9,185 shares during the quarter. Ameritas Advisory Services LLC’s holdings in RTX were worth $2,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the third quarter worth approximately $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter worth approximately $39,000. ORG Wealth Partners LLC acquired a new stake in shares of RTX in the third quarter worth approximately $50,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of RTX in the second quarter worth approximately $46,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $121.30 on Monday. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. The business’s fifty day simple moving average is $118.10 and its 200-day simple moving average is $117.69. The firm 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 quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. Equities analysts forecast that RTX Co. will post 5.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.87.

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.