Piscataqua Savings Bank Boosts Holdings in RTX Co. (NYSE:RTX)

Piscataqua Savings Bank boosted its position in shares of RTX Co. (NYSE:RTX) by 15.2% in the second quarter, Holdings Channel.com reports. The firm owned 16,654 shares of the company’s stock after acquiring an additional 2,199 shares during the period. RTX comprises approximately 1.3% of Piscataqua Savings Bank’s investment portfolio, making the stock its 21st largest position. Piscataqua Savings Bank’s holdings in RTX were worth $1,631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of RTX in the fourth quarter worth about $1,580,608,000. Moneta Group Investment Advisors LLC grew its position in shares of RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. Sanders Capital LLC bought a new position in RTX during the 1st quarter valued at $769,926,000. Morgan Stanley grew its holdings in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after acquiring an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $75.17 on Tuesday. The company has a market capitalization of $109.41 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The business’s 50-day moving average price is $86.75 and its two-hundred day moving average price is $93.86. RTX Co. has a one year low of $73.62 and a one year high of $108.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.81.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The business had revenue of $18.32 billion for 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%. RTX’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Analysts anticipate that RTX Co. will post 4.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays downgraded RTX from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $100.00 to $75.00 in a report on Tuesday, September 12th. Bank of America downgraded shares of RTX from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $95.00 to $75.00 in a research report on Thursday, September 14th. TD Cowen dropped their price objective on shares of RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 12th. Morgan Stanley reissued an “equal weight” rating and issued a $95.00 target price (down previously from $110.00) on shares of RTX in a report on Wednesday, July 26th. Finally, Susquehanna cut their price target on RTX from $117.00 to $110.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Hold” and an average target price of $94.06.

RTX Company Profile

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.