Institute for Wealth Management LLC. Sells 266 Shares of RTX Co. (NYSE:RTX)

Institute for Wealth Management LLC. lessened its holdings in RTX Co. (NYSE:RTX) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,236 shares of the company’s stock after selling 266 shares during the quarter. Institute for Wealth Management LLC.’s holdings in RTX were worth $1,763,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter worth about $41,000. ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter worth approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $129.14 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $171.89 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company’s 50-day moving average is $118.97 and its 200 day moving average is $119.00.

RTX (NYSE:RTX) last issued its quarterly earnings results 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 12.45% and a net margin of 5.91%. Research analysts forecast that RTX Co. will post 6.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Wednesday. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday. UBS Group raised their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday. Six equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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.