Douglas Lane & Associates LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Douglas Lane & Associates LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,052 shares of the company’s stock after selling 4,777 shares during the period. Douglas Lane & Associates LLC’s holdings in RTX were worth $45,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lantz Financial LLC lifted its holdings in RTX by 8.0% in the second quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock valued at $277,000 after acquiring an additional 204 shares during the period. Acadian Asset Management LLC boosted its holdings in RTX by 26.4% in the 2nd 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 during the last quarter. PFG Investments LLC raised its position in shares of RTX by 3.7% during the 2nd quarter. PFG Investments LLC now owns 19,866 shares of the company’s stock valued at $1,994,000 after buying an additional 717 shares during the period. Prudential PLC purchased a new stake in shares of RTX during the 2nd quarter valued at approximately $309,000. Finally, Liberty Wealth Management LLC lifted its stake in shares of RTX by 317.3% in the 2nd quarter. Liberty Wealth Management LLC now owns 14,346 shares of the company’s stock valued at $1,440,000 after purchasing an additional 10,908 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RTX shares. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Up 0.8 %

RTX traded up $0.89 during trading hours on Wednesday, reaching $115.69. 1,681,091 shares of the stock traded hands, compared to its average volume of 3,018,451. The company has a market cap of $153.99 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 2.08 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. The firm’s fifty day simple moving average is $118.48 and its two-hundred day simple moving average is $116.72. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70.

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