RTX Co. (NYSE:RTX) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lowered its stake in RTX Co. (NYSE:RTX) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,199 shares of the company’s stock after selling 93 shares during the period. Legacy Wealth Asset Management LLC’s holdings in RTX were worth $717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the third quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth $39,000. Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter valued at $41,000. Kimelman & Baird LLC bought a new stake in RTX in the 2nd quarter valued at $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX in the 3rd quarter worth $50,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group upped their price objective 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. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Wells Fargo & Company upped their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.87.

RTX Stock Up 0.7 %

NYSE RTX opened at $121.30 on Friday. The stock’s 50 day simple moving average is $118.10 and its 200 day simple moving average is $117.45. RTX Co. has a one year low of $84.43 and a one year high of $128.70. The firm has a market cap of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.84 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 (NYSE:RTX) last announced 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.55 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.