Wendell David Associates Inc. Has $5.22 Million Stock Holdings in RTX Co. (NYSE:RTX)

Wendell David Associates Inc. lowered its holdings in RTX Co. (NYSE:RTX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,144 shares of the company’s stock after selling 1,050 shares during the quarter. Wendell David Associates Inc.’s holdings in RTX were worth $5,224,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter valued at $41,000. Kimelman & Baird LLC bought a new stake in shares of RTX in the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of RTX during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 1.0 %

RTX opened at $124.49 on Thursday. The firm’s fifty day simple moving average is $118.10 and its 200 day simple moving average is $118.06. 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. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $87.96 and a 12 month high of $128.70.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RTX shares. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. 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. Barclays raised their price objective 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. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $158.27.

RTX Company 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.