Cerro Pacific Wealth Advisors LLC Buys 438 Shares of RTX Co. (NYSE:RTX)

Cerro Pacific Wealth Advisors LLC grew its stake in shares of RTX Co. (NYSE:RTX) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,766 shares of the company’s stock after acquiring an additional 438 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in RTX were worth $577,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter valued at approximately $41,000. Kimelman & Baird LLC purchased a new stake in RTX during the 2nd quarter valued at $46,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of RTX in the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RTX shares. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Susquehanna dropped their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Stock Performance

RTX opened at $126.34 on Friday. The firm has a market cap of $168.17 billion, a P/E ratio of 36.10, a PEG ratio of 1.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a 50 day simple moving average of $118.25 and a two-hundred day simple moving average of $118.12. RTX Co. has a 1-year low of $88.70 and a 1-year 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, beating 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that RTX Co. will post 5.56 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.