Ballast Inc. Sells 299 Shares of RTX Co. (NYSE:RTX)

Ballast Inc. reduced its position in RTX Co. (NYSE:RTX) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,550 shares of the company’s stock after selling 299 shares during the period. Ballast Inc.’s holdings in RTX were worth $1,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter valued at approximately $29,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter valued at $41,000. Modus Advisors LLC purchased a new stake in shares of RTX during the fourth quarter worth $39,000. ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter worth $50,000. Finally, Kimelman & Baird LLC purchased a new position in shares of RTX in the second quarter valued at $46,000. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on RTX shares. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna cut their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Six 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 stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

Shares of RTX stock opened at $121.30 on Friday. The firm has a market capitalization 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 current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The business’s 50-day moving average price is $118.10 and its 200-day moving average price is $117.57.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.55 EPS for the current fiscal year.

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.