Park Avenue Securities LLC Acquires 24,138 Shares of RTX Co. (NYSE:RTX)

Park Avenue Securities LLC lifted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 62.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,913 shares of the company's stock after purchasing an additional 24,138 shares during the quarter. Park Avenue Securities LLC's holdings in RTX were worth $7,280,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter valued at $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the third quarter worth about $41,000. Modus Advisors LLC acquired a new stake in shares of RTX in the 4th quarter worth about $39,000. ORG Wealth Partners LLC bought a new position in RTX in the 3rd quarter valued at about $50,000. Finally, Kimelman & Baird LLC acquired a new position in RTX during the 2nd quarter valued at about $46,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock traded up $1.29 during trading hours on Thursday, hitting $120.38. 3,896,678 shares of the company were exchanged, compared to its average volume of 3,950,888. RTX Co. has a 52-week low of $84.43 and a 52-week 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. The firm has a fifty day simple moving average of $118.14 and a 200 day simple moving average of $117.28. The stock has a market capitalization of $160.22 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts' expectations of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Citigroup lifted their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Royal Bank of Canada upgraded shares of RTX from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Six 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. According to MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus price target 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.