Griffin Asset Management Inc. Buys 258 Shares of RTX Co. (NYSE:RTX)

Griffin Asset Management Inc. lifted its position in shares of RTX Co. (NYSE:RTX) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,642 shares of the company’s stock after purchasing an additional 258 shares during the quarter. Griffin Asset Management Inc.’s holdings in RTX were worth $9,332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter valued at $29,000. Western Pacific Wealth Management LP bought a new position in RTX during the third quarter valued at approximately $41,000. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth $39,000. ORG Wealth Partners LLC bought a new stake in shares of RTX during the 3rd quarter valued at about $50,000. Finally, Kimelman & Baird LLC purchased a new stake in RTX during the second quarter valued at approximately $46,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on RTX shares. Wells Fargo & Company raised their price objective on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Susquehanna lowered their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Price Performance

RTX stock opened at $124.72 on Tuesday. The firm’s 50-day simple moving average is $118.49 and its 200 day simple moving average is $118.70. The firm has a market capitalization of $166.00 billion, a PE ratio of 35.63, a P/E/G ratio of 1.99 and a beta of 0.81. RTX Co. has a 52 week low of $88.90 and a 52 week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that RTX Co. will post 5.56 EPS for the current fiscal 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.