RTX Co. (NYSE:RTX) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 9.1% in the fourth quarter, Holdings Channel reports. The firm owned 329,427 shares of the company’s stock after selling 32,942 shares during the period. RTX accounts for 3.0% of Avity Investment Management Inc.’s investment portfolio, making the stock its 12th biggest position. Avity Investment Management Inc.’s holdings in RTX were worth $38,121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC increased 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 in the last quarter. Federated Hermes Inc. grew its stake in shares of RTX by 36.1% in the second quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after buying an additional 2,552 shares in the last quarter. One Capital Management LLC raised its holdings in shares of RTX by 115.7% during the 2nd quarter. One Capital Management LLC now owns 6,768 shares of the company’s stock valued at $679,000 after buying an additional 3,631 shares during the period. Edgestream Partners L.P. boosted its holdings in RTX by 140.5% in the 2nd quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after acquiring an additional 4,686 shares during the period. Finally, Virtu Financial LLC acquired a new stake in RTX in the second quarter valued at approximately $5,623,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup upped their target price 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. Barclays raised their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, UBS Group lifted their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Up 1.4 %

RTX stock opened at $119.36 on Wednesday. The firm has a fifty day moving average price of $118.18 and a two-hundred day moving average price of $117.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The firm has a market cap of $158.87 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that RTX Co. will post 5.56 EPS for the current year.

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.