Royal Fund Management LLC Sells 62,160 Shares of RTX Co. (NYSE:RTX)

Royal Fund Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,236 shares of the company’s stock after selling 62,160 shares during the quarter. Royal Fund Management LLC’s holdings in RTX were worth $7,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Assenagon Asset Management S.A. grew its holdings in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $121.30 on Tuesday. The firm has a 50-day moving average of $118.03 and a 200-day moving average of $117.84. The company has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.93 and a beta of 0.81. 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 Co. has a one year low of $84.43 and a one year high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RTX shares. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.