Laurel Wealth Advisors LLC Has $2.75 Million Holdings in RTX Co. (NYSE:RTX)

Laurel Wealth Advisors LLC raised its position in shares of RTX Co. (NYSE:RTX) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,769 shares of the company’s stock after acquiring an additional 455 shares during the period. Laurel Wealth Advisors LLC’s holdings in RTX were worth $2,750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. LRI Investments LLC lifted its position in shares of RTX by 6.5% during the third 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 in the last quarter. Napa Wealth Management acquired a new stake in shares of RTX in the 3rd quarter valued at $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% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the period. Finally, Kennebec Savings Bank acquired a new stake in RTX in the third quarter worth about $953,000. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Morgan Stanley upped their target price 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. Wells Fargo & Company lifted their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Citigroup lifted their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Six equities research 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Price Performance

NYSE RTX opened at $119.36 on Wednesday. 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 52-week low of $84.43 and a 52-week high of $128.70. The business has a 50 day simple moving average of $118.18 and a 200 day simple moving average of $117.14. The stock has a market cap of $158.87 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during 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 revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. 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.