Traynor Capital Management Inc. Increases Stake in RTX Co. (NYSE:RTX)

Traynor Capital Management Inc. increased its holdings in RTX Co. (NYSE:RTX) by 19.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,410 shares of the company’s stock after acquiring an additional 390 shares during the quarter. Traynor Capital Management Inc.’s holdings in RTX were worth $279,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP bought a new stake in RTX in the third quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in shares of RTX in the second quarter worth approximately $46,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of RTX in the third quarter worth $50,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Wells Fargo & Company boosted their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Stock Performance

Shares of RTX opened at $126.34 on Friday. RTX Co. has a 52 week low of $88.70 and a 52 week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $168.17 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81. The business’s 50 day moving average price is $118.25 and its 200-day moving average price is $118.12.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. 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 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

About RTX

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.