Stonegate Investment Group LLC Cuts Stake in RTX Co. (NYSE:RTX)

Stonegate Investment Group LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,015 shares of the company’s stock after selling 1,807 shares during the period. Stonegate Investment Group LLC’s holdings in RTX were worth $3,473,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter worth about $39,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX during the 3rd quarter worth about $41,000. Kimelman & Baird LLC purchased a new position in shares of RTX during the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX during the 3rd quarter worth approximately $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on RTX shares. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna dropped their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.27.

RTX Stock Down 0.5 %

RTX stock opened at $124.72 on Tuesday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $166.00 billion, a P/E ratio of 35.63, a PEG ratio of 1.99 and a beta of 0.81. The firm has a 50 day simple moving average of $118.49 and a 200-day simple moving average of $118.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. On average, equities research analysts predict that RTX Co. will post 5.56 earnings per share 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 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.