Abacus Wealth Partners LLC Sells 212 Shares of RTX Co. (NYSE:RTX)

Abacus Wealth Partners LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,789 shares of the company’s stock after selling 212 shares during the quarter. Abacus Wealth Partners LLC’s holdings in RTX were worth $207,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RTX shares. Morgan Stanley raised their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Susquehanna decreased their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Price Performance

NYSE RTX opened at $121.30 on Tuesday. The business’s fifty day moving average is $118.03 and its 200 day moving average is $117.84. 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 company has a market capitalization of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current 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.