RTX (NYSE:RTX) Sets New 12-Month High After Better-Than-Expected Earnings

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

The company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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

Several brokerages recently issued reports on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Barclays upped their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

Hedge Funds Weigh In On RTX

A number of institutional investors and hedge funds have recently modified their holdings of RTX. CX Institutional increased its stake in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC increased its position in RTX by 6.5% in the third 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 in the last quarter. Napa Wealth Management bought a new position in shares of RTX in the third quarter worth about $1,307,000. Czech National Bank lifted its position in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after buying an additional 17,608 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 2.5 %

The company has a market capitalization of $170.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company’s fifty day moving average is $118.67 and its 200-day moving average is $118.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

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.