Wealth Effects LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Wealth Effects LLC lowered its position in RTX Co. (NYSE:RTX) by 16.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,523 shares of the company’s stock after selling 1,065 shares during the period. Wealth Effects LLC’s holdings in RTX were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter worth about $41,000. Kimelman & Baird LLC acquired a new position in RTX during the second quarter worth $46,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX in the third quarter valued at about $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.5 %

NYSE RTX opened at $124.72 on Tuesday. RTX Co. has a 12 month low of $88.90 and a 12 month high of $128.70. 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 company’s 50 day simple moving average is $118.49 and its 200 day simple moving average is $118.70. 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 (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. Equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. 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 research note on Wednesday, October 23rd. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average 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.