DAVENPORT & Co LLC Trims Holdings in RTX Co. (NYSE:RTX)

DAVENPORT & Co LLC cut its stake in RTX Co. (NYSE:RTX) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 109,637 shares of the company’s stock after selling 6,949 shares during the period. DAVENPORT & Co LLC’s holdings in RTX were worth $12,687,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RTX. Geode Capital Management LLC lifted its position in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the last quarter. Fisher Asset Management LLC raised its stake in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares in the last quarter. FMR LLC lifted its holdings in RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of RTX by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of RTX by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after acquiring an additional 38,930 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RTX shares. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. UBS Group increased their price objective on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

Shares of RTX opened at $129.08 on Monday. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The firm has a market capitalization of $171.81 billion, a PE ratio of 36.36, a P/E/G ratio of 1.99 and a beta of 0.81. The firm has a 50-day moving average price of $119.14 and a 200 day moving average price of $119.40. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts anticipate that RTX Co. will post 6.1 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.