Terra Nova Asset Management LLC Purchases 4,731 Shares of RTX Co. (NYSE:RTX)

Terra Nova Asset Management LLC grew its position in shares of RTX Co. (NYSE:RTX) by 37.3% in the fourth quarter, Holdings Channel reports. The fund owned 17,406 shares of the company’s stock after buying an additional 4,731 shares during the quarter. Terra Nova Asset Management LLC’s holdings in RTX were worth $2,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City Holding Co. lifted its position in RTX by 2.2% in the fourth quarter. City Holding Co. now owns 14,061 shares of the company’s stock worth $1,627,000 after buying an additional 305 shares during the last quarter. Ellsworth Advisors LLC lifted its position in RTX by 2.6% in the fourth quarter. Ellsworth Advisors LLC now owns 17,564 shares of the company’s stock worth $2,033,000 after buying an additional 451 shares during the last quarter. Cascade Investment Group Inc. lifted its position in RTX by 14.4% in the fourth quarter. Cascade Investment Group Inc. now owns 4,951 shares of the company’s stock worth $573,000 after buying an additional 624 shares during the last quarter. Grove Bank & Trust lifted its position in RTX by 5.4% in the fourth quarter. Grove Bank & Trust now owns 9,123 shares of the company’s stock worth $1,056,000 after buying an additional 464 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its position in RTX by 1.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 193,394 shares of the company’s stock worth $22,380,000 after buying an additional 1,947 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $121.30 on Monday. The firm has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81. 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 12 month low of $84.43 and a 12 month high of $128.70. The stock’s fifty day moving average price is $118.10 and its 200-day moving average price is $117.69.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Thursday, January 2nd. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, TD Cowen upgraded 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

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.