Alpha Cubed Investments LLC Sells 9,167 Shares of RTX Co. (NYSE:RTX)

Alpha Cubed Investments LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 37.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,157 shares of the company’s stock after selling 9,167 shares during the quarter. Alpha Cubed Investments LLC’s holdings in RTX were worth $1,754,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of RTX by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 95,289 shares of the company’s stock worth $9,566,000 after acquiring an additional 4,148 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of RTX by 1.7% in the 2nd quarter. Sei Investments Co. now owns 637,707 shares of the company’s stock valued at $64,018,000 after purchasing an additional 10,928 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of RTX by 23.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 289,915 shares of the company’s stock valued at $29,105,000 after purchasing an additional 55,196 shares during the last quarter. ProShare Advisors LLC raised its stake in RTX by 6.8% during the second quarter. ProShare Advisors LLC now owns 183,653 shares of the company’s stock worth $18,437,000 after acquiring an additional 11,770 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of RTX by 3,170.6% in the second quarter. Frank Rimerman Advisors LLC now owns 8,569 shares of the company’s stock worth $860,000 after acquiring an additional 8,307 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.7 %

Shares of RTX stock opened at $121.30 on Tuesday. The stock’s 50-day moving average is $118.03 and its 200 day moving average is $117.84. 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 price-to-earnings ratio of 34.66, a PEG ratio of 1.93 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 quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Susquehanna decreased their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Wells Fargo & Company upped their price objective on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Six investment 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 company. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $156.87.

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.