Traynor Capital Management Inc. Acquires 390 Shares of RTX Co. (NYSE:RTX)

Traynor Capital Management Inc. increased its holdings in shares of RTX Co. (NYSE:RTX) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,410 shares of the company’s stock after acquiring an additional 390 shares during the quarter. Traynor Capital Management Inc.’s holdings in RTX were worth $279,000 as of its most recent SEC filing.

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

RTX Trading Up 1.6 %

Shares of RTX opened at $126.34 on Friday. RTX Co. has a 1-year low of $88.70 and a 1-year high of $128.70. The company has a market capitalization of $168.17 billion, a P/E ratio of 36.10, a P/E/G 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 firm’s 50 day simple moving average is $118.25 and its 200 day simple moving average is $118.12.

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, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on RTX. Susquehanna lowered their target price on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a report on Tuesday. 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 upped their price target for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.27.

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.