Gladstone Institutional Advisory LLC lowered its stake in RTX Co. (NYSE:RTX – Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,680 shares of the company’s stock after selling 2,012 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in RTX were worth $2,221,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. IAG Wealth Partners LLC bought a new position in RTX during the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in RTX by 60.5% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Rebalance LLC bought a new position in RTX during the fourth quarter worth about $36,000. Tanglewood Legacy Advisors LLC bought a new position in RTX during the fourth quarter worth about $41,000. Finally, True Wealth Design LLC bought a new position in RTX during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 79.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on RTX shares. Robert W. Baird reduced their target price on RTX from $115.00 to $100.00 in a report on Wednesday, July 26th. Morgan Stanley restated an “equal weight” rating and issued a $95.00 price target (down from $110.00) on shares of RTX in a report on Wednesday, July 26th. StockNews.com began coverage on RTX in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup cut their price target on RTX from $113.50 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th. Finally, Bank of America lowered RTX from a “buy” rating to a “neutral” rating and cut their price target for the company from $120.00 to $95.00 in a report on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $104.33.
RTX Price Performance
NYSE:RTX opened at $83.48 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.10. The stock’s 50-day simple moving average is $89.41 and its 200 day simple moving average is $94.84. The company has a market cap of $121.51 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.14 and a beta of 0.97. RTX Co. has a 52-week low of $80.27 and a 52-week high of $108.84.
RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The firm had revenue of $18.32 billion for the quarter, compared to the consensus estimate of $17.68 billion. RTX had a return on equity of 9.98% and a net margin of 7.88%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, sell-side analysts forecast that RTX Co. will post 5 EPS for the current fiscal year.
RTX Company Profile
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
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