Miracle Mile Advisors LLC Acquires 3,589 Shares of RTX Co. (NYSE:RTX)

Miracle Mile Advisors LLC grew its holdings in RTX Co. (NYSE:RTX) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,433 shares of the company’s stock after acquiring an additional 3,589 shares during the quarter. Miracle Mile Advisors LLC’s holdings in RTX were worth $2,712,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. LRI Investments LLC raised its holdings in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management bought a new stake in RTX in the 3rd quarter valued at $1,307,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares during the period. Kennebec Savings Bank bought a new position in RTX during the 3rd quarter worth about $953,000. Finally, Point72 Hong Kong Ltd raised its stake in shares of RTX by 83.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after purchasing an additional 37,671 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $117.85 on Tuesday. The company’s 50-day moving average is $118.18 and its 200-day moving average is $117.14. 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 firm has a market capitalization of $156.86 billion, a PE ratio of 33.67, a PEG ratio of 2.08 and a beta of 0.81. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last issued 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 net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.56 EPS for the current year.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Susquehanna reduced their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.87.

RTX 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.