Strong Tower Advisory Services Has $2.45 Million Stock Holdings in RTX Co. (NYSE:RTX)

Strong Tower Advisory Services increased its holdings in shares of RTX Co. (NYSE:RTX) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 21,173 shares of the company’s stock after purchasing an additional 1,654 shares during the period. Strong Tower Advisory Services’ holdings in RTX were worth $2,450,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

Shares of RTX opened at $121.30 on Monday. The business has a 50-day moving average of $118.10 and a 200-day moving average of $117.69. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The company has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. As a group, equities research analysts anticipate that RTX Co. will post 5.55 earnings per share for the current year.

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.