Cranbrook Wealth Management LLC Has $721,000 Stock Holdings in RTX Co. (NYSE:RTX)

Cranbrook Wealth Management LLC raised its position in shares of RTX Co. (NYSE:RTX) by 3.7% in the 4th quarter, Holdings Channel reports. The firm owned 6,233 shares of the company’s stock after acquiring an additional 225 shares during the period. Cranbrook Wealth Management LLC’s holdings in RTX were worth $721,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have commented on RTX shares. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Six equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $121.30 on Friday. The company has a market cap of $161.45 billion, a P/E ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. The stock has a 50 day simple moving average of $118.10 and a two-hundred day simple moving average of $117.45. 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 fifty-two week low of $84.43 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. Research analysts forecast that RTX Co. will post 5.55 earnings per share for the current 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.