Cadinha & Co. LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

Cadinha & Co. LLC lifted its position in RTX Co. (NYSE:RTX) by 40.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,665 shares of the company’s stock after purchasing an additional 1,050 shares during the quarter. Cadinha & Co. LLC’s holdings in RTX were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RTX. Geode Capital Management LLC grew its position in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after acquiring an additional 508,344 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Ameriprise Financial Inc. raised its position in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. Finally, FMR LLC lifted its stake in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup lifted their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Susquehanna dropped their price objective on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

RTX stock opened at $121.30 on Friday. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The stock’s 50 day simple moving average is $118.10 and its two-hundred day simple moving average is $117.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market cap of $161.45 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, analysts expect that RTX Co. will post 5.55 earnings per share for the current fiscal year.

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.