RTX (NYSE:RTX) Hits New 1-Year High After Better-Than-Expected Earnings

Shares of RTX Co. (NYSE:RTX) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $131.60 and last traded at $131.87, with a volume of 142313 shares traded. The stock had previously closed at $125.05.

The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.27.

Institutional Trading of RTX

A number of institutional investors have recently modified their holdings of the business. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter worth $29,000. Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter worth $41,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth $39,000. Iron Horse Wealth Management LLC raised its holdings in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of RTX in the third quarter worth $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

The company has a market capitalization of $174.16 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 1.99 and a beta of 0.81. The stock has a fifty day moving average price of $118.49 and a two-hundred day moving average price of $118.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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.