Bourgeon Capital Management LLC Cuts Stock Position in RTX Co. (NYSE:RTX)

Bourgeon Capital Management LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,299 shares of the company’s stock after selling 775 shares during the quarter. RTX accounts for about 1.9% of Bourgeon Capital Management LLC’s holdings, making the stock its 22nd largest holding. Bourgeon Capital Management LLC’s holdings in RTX were worth $9,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Elgethun Capital Management raised its stake in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares in the last quarter. Avestar Capital LLC raised its position in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the period. Arbor Wealth Advisors LLC lifted its stake in RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after purchasing an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC grew its stake in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RTX shares. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research report on Tuesday. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. 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 MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Price Performance

RTX opened at $125.75 on Wednesday. The firm has a market cap of $167.37 billion, a PE ratio of 35.93, a P/E/G ratio of 1.93 and a beta of 0.81. The stock has a 50-day moving average price of $118.08 and a 200-day moving average price of $118.01. RTX Co. has a 1 year low of $85.01 and a 1 year high of $128.70. 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 issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for 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 business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

About RTX

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.