Herbst Group LLC Sells 807 Shares of RTX Co. (NYSE:RTX)

Herbst Group LLC trimmed its position in RTX Co. (NYSE:RTX) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,302 shares of the company’s stock after selling 807 shares during the quarter. RTX comprises about 2.2% of Herbst Group LLC’s investment portfolio, making the stock its 19th biggest position. Herbst Group LLC’s holdings in RTX were worth $3,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in RTX by 26.4% during the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after purchasing an additional 355 shares in the last quarter. Federated Hermes Inc. raised its position in shares of RTX by 36.1% during the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after buying an additional 2,552 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of RTX by 140.5% in the 2nd quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock valued at $805,000 after acquiring an additional 4,686 shares during the last quarter. Intech Investment Management LLC increased its stake in RTX by 49.4% during the second quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock worth $3,820,000 after acquiring an additional 12,583 shares during the last quarter. Finally, Brighton Jones LLC raised its position in RTX by 5.1% during the second quarter. Brighton Jones LLC now owns 14,841 shares of the company’s stock valued at $1,490,000 after purchasing an additional 718 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RTX shares. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective 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. Susquehanna dropped their price target 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. UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

RTX stock opened at $121.30 on Friday. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The business has a 50-day moving average price of $118.10 and a 200 day moving average price of $117.57. The company has a market capitalization of $161.45 billion, a P/E ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted 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 business had revenue of $20.09 billion during 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%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, equities research analysts forecast that RTX Co. will post 5.55 EPS for the current fiscal year.

RTX 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.