Orca Wealth Management LLC Takes $3.82 Million Position in RTX Co. (NYSE:RTX)

Orca Wealth Management LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 33,009 shares of the company’s stock, valued at approximately $3,820,000. RTX makes up 3.4% of Orca Wealth Management LLC’s investment portfolio, making the stock its 7th largest position.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after purchasing an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after acquiring an additional 509,261 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 2.5 %

Shares of RTX stock opened at $128.21 on Wednesday. The stock has a market cap of $170.65 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 1.99 and a beta of 0.81. The stock has a 50-day moving average of $118.67 and a 200-day moving average of $118.89. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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%. On average, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. Morgan Stanley lifted 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. Wells Fargo & Company lifted their target price on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

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.