Pines Wealth Management LLC Makes New Investment in RTX Co. (NYSE:RTX)

Pines Wealth Management LLC bought a new stake in shares of RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,337 shares of the company's stock, valued at approximately $729,000.

A number of other large investors also recently made changes to their positions in the business. Marshall Wace LLP increased its stake in RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company's stock valued at $206,172,000 after buying an additional 1,901,256 shares during the period. International Assets Investment Management LLC grew its holdings in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company's stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company's stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company's stock worth $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company's stock valued at $118,309,000 after purchasing an additional 702,699 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX traded down $0.40 during mid-day trading on Wednesday, hitting $119.07. The company's stock had a trading volume of 4,279,579 shares, compared to its average volume of 3,954,822. The stock's 50-day moving average is $118.19 and its two-hundred day moving average is $117.27. The firm has a market capitalization of $158.48 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a one year low of $84.43 and a one year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating 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 firm had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RTX shares. Wells Fargo & Company raised 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. Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. UBS Group raised their price target on shares of RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Finally, Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and an average 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.