Arkadios Wealth Advisors Trims Stock Holdings in RTX Co. (NYSE:RTX)

Arkadios Wealth Advisors lowered its position in shares of RTX Co. (NYSE:RTX) by 19.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,461 shares of the company’s stock after selling 5,037 shares during the period. Arkadios Wealth Advisors’ holdings in RTX were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RTX. Geode Capital Management LLC grew its stake in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Finally, FMR LLC boosted its stake in RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RTX shares. Susquehanna decreased their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Morgan Stanley boosted 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. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Up 0.7 %

Shares of RTX stock opened at $121.30 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 12 month low of $84.43 and a 12 month high of $128.70. The stock has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81. The company has a 50 day simple moving average of $118.10 and a two-hundred day simple moving average of $117.57.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the firm earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts expect that RTX Co. will post 5.55 earnings per share for the current year.

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.