D.B. Root & Company LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

D.B. Root & Company LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,270 shares of the company’s stock after selling 121 shares during the quarter. D.B. Root & Company LLC’s holdings in RTX were worth $841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Planning Services Inc. LA ADV boosted its position in RTX by 0.8% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 61,596 shares of the company’s stock worth $7,128,000 after purchasing an additional 500 shares in the last quarter. True North Advisors LLC boosted its position in shares of RTX by 18.5% in the 4th quarter. True North Advisors LLC now owns 4,365 shares of the company’s stock worth $505,000 after buying an additional 681 shares in the last quarter. Traynor Capital Management Inc. grew its stake in RTX by 19.3% in the 4th quarter. Traynor Capital Management Inc. now owns 2,410 shares of the company’s stock valued at $279,000 after acquiring an additional 390 shares during the last quarter. Sharp Financial Services LLC increased its holdings in RTX by 13.5% during the 4th quarter. Sharp Financial Services LLC now owns 4,395 shares of the company’s stock valued at $509,000 after acquiring an additional 523 shares in the last quarter. Finally, Phillips Wealth Planners LLC lifted its holdings in shares of RTX by 24.3% in the fourth quarter. Phillips Wealth Planners LLC now owns 4,235 shares of the company’s stock valued at $487,000 after purchasing an additional 829 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $124.49 on Thursday. RTX Co. has a fifty-two week low of $87.96 and a fifty-two week high of $128.70. The firm’s 50 day moving average is $118.10 and its two-hundred day moving average is $118.06. The company has a market cap 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 quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results 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. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Analysts expect that RTX Co. will post 5.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna decreased their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus 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.