Smith Salley Wealth Management Acquires 3,675 Shares of RTX Co. (NYSE:RTX)

Smith Salley Wealth Management raised its position in RTX Co. (NYSE:RTX - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,885 shares of the company's stock after purchasing an additional 3,675 shares during the quarter. RTX accounts for about 1.5% of Smith Salley Wealth Management's holdings, making the stock its 18th biggest holding. Smith Salley Wealth Management's holdings in RTX were worth $22,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RTX. LRI Investments LLC raised its position 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 acquired a new stake in shares of RTX in the third quarter valued at about $1,307,000. Czech National Bank raised its position in shares of RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company's stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company's stock worth $9,510,000 after acquiring an additional 11,354 shares during the period. Finally, Empirical Asset Management LLC bought a new stake in RTX in the fourth quarter valued at approximately $8,387,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock traded up $0.84 during midday trading on Friday, hitting $121.30. The company's stock had a trading volume of 4,182,063 shares, compared to its average volume of 3,467,505. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The stock has a market cap of $161.45 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. The stock's 50-day moving average price is $118.10 and its 200 day moving average price is $117.57. 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, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. The firm's quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that RTX Co. will post 5.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. 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 research report on Wednesday, January 8th. Morgan Stanley upped their price target 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. Citigroup lifted their price objective on RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. TD Cowen upgraded RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Finally, Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.