Mutual Advisors LLC Cuts Position in RTX Co. (NYSE:RTX)

Mutual Advisors LLC reduced its stake in RTX Co. (NYSE:RTX) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,716 shares of the company’s stock after selling 10,169 shares during the quarter. Mutual Advisors LLC’s holdings in RTX were worth $4,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Planning Services Inc. LA ADV grew its holdings in shares of RTX by 0.8% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 61,596 shares of the company’s stock valued at $7,128,000 after buying an additional 500 shares during the last quarter. True North Advisors LLC raised its stake in shares of RTX by 18.5% in the fourth quarter. True North Advisors LLC now owns 4,365 shares of the company’s stock worth $505,000 after purchasing an additional 681 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in shares of RTX by 19.3% during the fourth quarter. Traynor Capital Management Inc. now owns 2,410 shares of the company’s stock valued at $279,000 after purchasing an additional 390 shares in the last quarter. Sharp Financial Services LLC raised its position in RTX by 13.5% in the 4th quarter. Sharp Financial Services LLC now owns 4,395 shares of the company’s stock worth $509,000 after buying an additional 523 shares during the last quarter. Finally, Phillips Wealth Planners LLC lifted its stake in RTX by 24.3% during the 4th quarter. Phillips Wealth Planners LLC now owns 4,235 shares of the company’s stock valued at $487,000 after acquiring an additional 829 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RTX. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $153.00 in a report on Tuesday. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Stock Performance

NYSE:RTX opened at $124.49 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $118.10 and a 200 day moving average price of $118.06. RTX Co. has a 12-month low of $87.96 and a 12-month high of $128.70. The stock has a market capitalization of $165.69 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.01 and a beta of 0.81.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal 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.