Procyon Advisors LLC Grows Holdings in RTX Co. (NYSE:RTX)

Procyon Advisors LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,374 shares of the company’s stock after purchasing an additional 1,404 shares during the quarter. Procyon Advisors LLC’s holdings in RTX were worth $4,094,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Goldstone Financial Group LLC grew its stake in RTX by 14.5% in the 4th quarter. Goldstone Financial Group LLC now owns 2,600 shares of the company’s stock worth $301,000 after acquiring an additional 329 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in RTX by 0.6% in the fourth quarter. KMG Fiduciary Partners LLC now owns 81,969 shares of the company’s stock worth $9,485,000 after purchasing an additional 487 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of RTX in the 4th quarter worth $8,387,000. Cvfg LLC purchased a new stake in RTX in the fourth quarter worth about $238,000. Finally, Bouvel Investment Partners LLC grew its holdings in RTX by 0.8% during the 4th quarter. Bouvel Investment Partners LLC now owns 28,788 shares of the company’s stock worth $3,331,000 after acquiring an additional 216 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RTX shares. Susquehanna lowered their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company increased their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Stock Performance

RTX opened at $120.38 on Friday. The company has a market cap of $160.22 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.84 and a beta of 0.81. The firm’s fifty day simple moving average is $118.14 and its two-hundred day simple moving average is $117.30. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70.

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

RTX Company 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.