Benin Management CORP Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Benin Management CORP cut its holdings in RTX Co. (NYSE:RTX) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,147 shares of the company’s stock after selling 100 shares during the quarter. Benin Management CORP’s holdings in RTX were worth $596,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in RTX by 23.2% during the 2nd quarter. AQR Capital Management LLC now owns 366,824 shares of the company’s stock valued at $36,825,000 after purchasing an additional 69,112 shares in the last quarter. Drucker Wealth 3.0 LLC purchased a new stake in shares of RTX during the second quarter valued at $307,000. Dark Forest Capital Management LP acquired a new position in shares of RTX in the 2nd quarter valued at $248,000. MBB Public Markets I LLC raised its stake in RTX by 2,154.5% in the 2nd quarter. MBB Public Markets I LLC now owns 94,712 shares of the company’s stock worth $9,508,000 after acquiring an additional 90,511 shares during the last quarter. Finally, Mark Asset Management LP lifted its position in RTX by 22.8% during the 2nd quarter. Mark Asset Management LP now owns 109,692 shares of the company’s stock worth $11,012,000 after acquiring an additional 20,358 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $125.23 on Friday. 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 Co. has a twelve month low of $88.90 and a twelve month high of $128.70. The stock has a 50-day moving average of $118.38 and a 200 day moving average of $118.29. The stock has a market capitalization of $166.69 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a report on Thursday, December 19th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Susquehanna cut their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

RTX 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.