CGN Advisors LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

CGN Advisors LLC decreased its stake in RTX Co. (NYSE:RTX - Free Report) by 34.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,946 shares of the company's stock after selling 9,929 shares during the quarter. CGN Advisors LLC's holdings in RTX were worth $2,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new position in RTX during the fourth quarter worth approximately $39,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the third quarter valued at approximately $41,000. Kimelman & Baird LLC acquired a new position in shares of RTX during the 2nd quarter worth approximately $46,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of RTX during the 3rd quarter valued at approximately $50,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RTX shares. Royal Bank of Canada upgraded shares of RTX from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. Susquehanna cut 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. Wells Fargo & Company raised their target price on RTX from $140.00 to $151.00 and gave the company an "overweight" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Six research 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's stock. According to MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.87.

RTX Trading Up 0.7 %

NYSE:RTX traded up $0.84 on Friday, hitting $121.30. The stock had a trading volume of 4,182,063 shares, compared to its average volume of 3,467,505. The company has a fifty day moving average price of $118.10 and a two-hundred day moving average price of $117.57. 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. 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 1-year low of $84.43 and a 1-year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research 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.