Beacon Capital Management LLC increased its holdings in shares of RTX Co. (NYSE:RTX – Free Report) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,776 shares of the company’s stock after buying an additional 171 shares during the quarter. Beacon Capital Management LLC’s holdings in RTX were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of RTX. Valicenti Advisory Services Inc. lifted its position in RTX by 1.3% in the 2nd quarter. Valicenti Advisory Services Inc. now owns 86,282 shares of the company’s stock worth $8,452,000 after buying an additional 1,070 shares in the last quarter. Matthew Goff Investment Advisor LLC raised its holdings in shares of RTX by 6.5% during the second quarter. Matthew Goff Investment Advisor LLC now owns 55,860 shares of the company’s stock worth $5,471,000 after acquiring an additional 3,430 shares in the last quarter. Foundry Partners LLC acquired a new stake in RTX during the second quarter valued at $18,784,000. Piscataqua Savings Bank grew its stake in RTX by 15.2% in the second quarter. Piscataqua Savings Bank now owns 16,654 shares of the company’s stock valued at $1,631,000 after purchasing an additional 2,199 shares in the last quarter. Finally, American National Bank raised its stake in shares of RTX by 15.4% during the 2nd quarter. American National Bank now owns 1,604 shares of the company’s stock worth $157,000 after purchasing an additional 214 shares in the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Royal Bank of Canada cut RTX from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $82.00 in a research note on Tuesday, September 12th. Melius downgraded shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Monday, September 11th. Susquehanna decreased their price objective on shares of RTX from $117.00 to $110.00 in a report on Wednesday, July 26th. Barclays lowered RTX from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $100.00 to $75.00 in a report on Tuesday, September 12th. Finally, Bank of America downgraded RTX from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $95.00 to $75.00 in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $94.06.
RTX Stock Performance
RTX stock traded down $0.03 during midday trading on Tuesday, hitting $75.15. The stock had a trading volume of 2,041,241 shares, compared to its average volume of 5,472,044. The firm has a market capitalization of $109.38 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The stock has a 50-day simple moving average of $86.75 and a 200 day simple moving average of $93.86. RTX Co. has a 52 week low of $73.62 and a 52 week high of $108.84.
RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. RTX had a net margin of 7.88% and a return on equity of 9.98%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. As a group, equities research analysts anticipate that RTX Co. will post 4.99 earnings per share for the current year.
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
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