Pallas Capital Advisors LLC reduced its stake in shares of RTX Co. (NYSE:RTX – Free Report) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,380 shares of the company’s stock after selling 724 shares during the period. Pallas Capital Advisors LLC’s holdings in RTX were worth $507,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the third quarter worth approximately $29,000. Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter worth approximately $41,000. Modus Advisors LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $39,000. ORG Wealth Partners LLC acquired a new position in shares of RTX in the 3rd quarter worth approximately $50,000. Finally, Kimelman & Baird LLC bought a new stake in shares of RTX in the 2nd quarter valued at $46,000. 86.50% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
RTX has been the topic of several recent analyst reports. 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 report on Wednesday, October 23rd. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.
RTX Stock Performance
NYSE RTX opened at $119.36 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a fifty day moving average price of $118.18 and a 200-day moving average price of $117.14. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The firm has a market cap of $158.87 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.08 and a beta of 0.81.
RTX (NYSE:RTX – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 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 analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS 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.
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