Franklin Parlapiano Turner & Welch LLC Has $8.72 Million Stake in RTX Co. (NYSE:RTX)

Franklin Parlapiano Turner & Welch LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 75,337 shares of the company’s stock after selling 4,412 shares during the period. RTX accounts for about 2.4% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 11th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in RTX were worth $8,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Reston Wealth Management LLC raised its holdings in RTX by 3,888.1% in the 4th quarter. Reston Wealth Management LLC now owns 2,672 shares of the company’s stock worth $309,000 after acquiring an additional 2,605 shares during the period. Orrstown Financial Services Inc. raised its holdings in RTX by 1.2% in the 4th quarter. Orrstown Financial Services Inc. now owns 11,099 shares of the company’s stock worth $1,284,000 after acquiring an additional 134 shares during the period. Field & Main Bank increased its holdings in shares of RTX by 0.8% during the 4th quarter. Field & Main Bank now owns 18,720 shares of the company’s stock worth $2,166,000 after purchasing an additional 150 shares during the period. Strategic Blueprint LLC increased its holdings in shares of RTX by 12.1% during the 4th quarter. Strategic Blueprint LLC now owns 8,235 shares of the company’s stock worth $953,000 after purchasing an additional 890 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of RTX by 5.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 383,440 shares of the company’s stock worth $44,372,000 after purchasing an additional 18,219 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, UBS Group boosted their price target on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. Six 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.73.

RTX Stock Down 2.4 %

Shares of NYSE:RTX opened at $125.25 on Thursday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $166.71 billion, a PE ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81. The company has a 50 day moving average price of $118.79 and a two-hundred day moving average price of $118.93.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. 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.