RTX Co. (NYSE:RTX) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC reduced its stake in RTX Co. (NYSE:RTXFree Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,743 shares of the company’s stock after selling 1,599 shares during the quarter. RTX accounts for 2.4% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 17th biggest holding. Renaissance Investment Group LLC’s holdings in RTX were worth $11,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new position in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter worth about $41,000. Kimelman & Baird LLC acquired a new stake in RTX in the second quarter valued at about $46,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.7 %

RTX stock opened at $121.30 on Friday. The stock has a 50-day moving average price of $118.10 and a 200 day moving average price of $117.57. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. The stock has a market cap of $161.45 billion, a PE ratio of 34.66, a P/E/G ratio of 1.84 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 (NYSE:RTXGet Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. Equities research analysts predict that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RTX has been the subject of a number of analyst reports. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna lowered their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

Read Our Latest Research Report on RTX

RTX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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