Eagle Bay Advisors LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Eagle Bay Advisors LLC lessened its position in RTX Co. (NYSE:RTX) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,884 shares of the company’s stock after selling 153 shares during the quarter. Eagle Bay Advisors LLC’s holdings in RTX were worth $218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC lifted its position in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Napa Wealth Management purchased a new position in RTX during the third quarter worth approximately $1,307,000. Mirae Asset Global Investments Co. Ltd. lifted its position in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares in the last quarter. Kennebec Savings Bank purchased a new position in RTX during the third quarter worth approximately $953,000. Finally, Point72 Hong Kong Ltd lifted its position in RTX by 83.5% during the third quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after buying an additional 37,671 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna reduced their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.87.

RTX Trading Up 1.5 %

Shares of NYSE RTX traded up $1.76 during trading on Monday, reaching $116.87. The stock had a trading volume of 1,625,803 shares, compared to its average volume of 3,379,275. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business’s 50-day moving average price is $118.18 and its 200-day moving average price is $117.01. The company has a market cap of $155.56 billion, a P/E ratio of 33.39, a PEG ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. On average, 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.