Avity Investment Management Inc. lessened its stake in RTX Co. (NYSE:RTX - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 329,427 shares of the company's stock after selling 32,942 shares during the period. RTX comprises approximately 3.0% of Avity Investment Management Inc.'s portfolio, making the stock its 12th largest position. Avity Investment Management Inc.'s holdings in RTX were worth $38,121,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new stake in shares of RTX during the fourth quarter worth $39,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the 3rd quarter worth about $41,000. Kimelman & Baird LLC purchased a new position in shares of RTX in the 2nd quarter valued at about $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX in the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on RTX. TD Cowen upgraded RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price objective on RTX from $140.00 to $151.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.87.
View Our Latest Analysis on RTX
RTX Stock Performance
RTX stock traded down $0.40 during mid-day trading on Wednesday, reaching $119.07. The company had a trading volume of 4,279,636 shares, compared to its average volume of 3,956,879. The stock's 50-day simple moving average is $118.19 and its two-hundred day simple moving average is $117.27. The stock has a market capitalization of $158.48 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.08 and a beta of 0.81. 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 Co. has a one year low of $84.43 and a one year high of $128.70.
RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. Research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.
RTX Company Profile
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Free Report)
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.
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