Parsons Capital Management Inc. RI Buys 68,969 Shares of RTX Co. (NYSE:RTX)

Parsons Capital Management Inc. RI increased its position in RTX Co. (NYSE:RTX) by 129.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,082 shares of the company’s stock after buying an additional 68,969 shares during the period. Parsons Capital Management Inc. RI’s holdings in RTX were worth $14,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX in the 3rd quarter worth $41,000. Kimelman & Baird LLC bought a new stake in shares of RTX in the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX during the 3rd quarter valued at about $50,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.8 %

Shares of NYSE RTX opened at $125.23 on Monday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $128.70. The firm has a market cap of $166.69 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The business has a fifty day simple moving average of $118.38 and a two-hundred day simple moving average of $118.54. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RTX shares. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus 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.