Harbor Investment Advisory LLC Sells 150 Shares of RTX Co. (NYSE:RTX)

Harbor Investment Advisory LLC decreased its stake in RTX Co. (NYSE:RTX) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,654 shares of the company’s stock after selling 150 shares during the period. Harbor Investment Advisory LLC’s holdings in RTX were worth $1,580,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Assenagon Asset Management S.A. lifted its stake in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Marshall Wace LLP lifted its position in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the period. Fisher Asset Management LLC raised its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $121.30 on Tuesday. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The firm’s fifty day moving average price is $118.03 and its 200-day moving average price is $117.84. The stock has a market cap of $161.45 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Susquehanna lowered their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised 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 report on Thursday, January 2nd. Finally, UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.