Lewis Asset Management LLC Takes $349,000 Position in RTX Co. (NYSE:RTX)

Lewis Asset Management LLC purchased a new stake in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,019 shares of the company's stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. OLD National Bancorp IN increased its position in shares of RTX by 1.3% in the 4th quarter. OLD National Bancorp IN now owns 34,107 shares of the company's stock valued at $3,947,000 after purchasing an additional 439 shares during the last quarter. DMC Group LLC increased its position in shares of RTX by 5.2% in the 4th quarter. DMC Group LLC now owns 12,118 shares of the company's stock valued at $1,402,000 after purchasing an additional 604 shares during the last quarter. Legacy Trust increased its position in shares of RTX by 2.7% in the 4th quarter. Legacy Trust now owns 55,310 shares of the company's stock valued at $6,400,000 after purchasing an additional 1,442 shares during the last quarter. Strategic Planning Group LLC increased its position in shares of RTX by 4.0% in the 4th quarter. Strategic Planning Group LLC now owns 35,310 shares of the company's stock valued at $4,086,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Gries Financial LLC increased its position in shares of RTX by 17.6% in the 4th quarter. Gries Financial LLC now owns 9,765 shares of the company's stock valued at $1,130,000 after purchasing an additional 1,463 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock traded up $4.01 during midday trading on Thursday, hitting $129.14. The company's stock had a trading volume of 4,314,689 shares, compared to its average volume of 4,641,595. The stock's 50-day moving average price is $118.79 and its 200-day moving average price is $118.93. The company has a market capitalization of $171.89 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. Analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Wells Fargo & Company upped their target price on shares of RTX from $140.00 to $151.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Wednesday. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.73.

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.