RTX Co. (NYSE:RTX) Position Lowered by Wallace Advisory Group LLC

Wallace Advisory Group LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,874 shares of the company’s stock after selling 761 shares during the period. Wallace Advisory Group LLC’s holdings in RTX were worth $712,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RTX. Acadian Asset Management LLC lifted its position in shares of RTX by 26.4% during the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after purchasing an additional 355 shares during the last quarter. Federated Hermes Inc. lifted its holdings in RTX by 36.1% in the second quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after acquiring an additional 2,552 shares during the last quarter. Fairfield Financial Advisors LTD bought a new position in RTX in the second quarter worth about $41,000. Black Diamond Financial LLC bought a new position in RTX in the second quarter worth about $283,000. Finally, Dimensional Fund Advisors LP lifted its holdings in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after acquiring an additional 417,789 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their price target on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Susquehanna cut their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Six 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Price Performance

NYSE RTX opened at $117.85 on Tuesday. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $156.86 billion, a PE ratio of 33.67, a P/E/G ratio of 2.08 and a beta of 0.81. The company’s 50 day simple moving average is $118.18 and its 200 day simple moving average is $117.14.

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