Legacy Trust Increases Stock Position in RTX Co. (NYSE:RTX)

Legacy Trust lifted its holdings in RTX Co. (NYSE:RTX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,310 shares of the company’s stock after buying an additional 1,442 shares during the quarter. RTX makes up about 1.5% of Legacy Trust’s holdings, making the stock its 25th biggest holding. Legacy Trust’s holdings in RTX were worth $6,400,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter worth about $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Modus Advisors LLC purchased a new stake in shares of RTX in the 4th quarter worth approximately $39,000. ORG Wealth Partners LLC bought a new position in RTX during the 3rd quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group increased their price objective on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $161.73.

RTX Stock Performance

RTX stock opened at $125.25 on Thursday. The company has a market cap of $166.71 billion, a P/E ratio of 35.79, a price-to-earnings-growth 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. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock’s fifty day moving average price is $118.79 and its 200-day moving average price is $118.93.

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

About RTX

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.