Matrix Asset Advisors Inc. NY Decreases Stake in RTX Co. (NYSE:RTX)

Matrix Asset Advisors Inc. NY lessened its stake in RTX Co. (NYSE:RTX) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,897 shares of the company’s stock after selling 484 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in RTX were worth $8,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter valued at approximately $39,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter worth $41,000. Kimelman & Baird LLC purchased a new stake in RTX during the second quarter worth $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX in the third quarter valued at $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.5 %

Shares of NYSE RTX opened at $124.72 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $166.00 billion, a PE ratio of 35.63, a P/E/G ratio of 1.99 and a beta of 0.81. The firm has a fifty day moving average of $118.49 and a 200-day moving average of $118.70. RTX Co. has a 52-week low of $88.90 and a 52-week high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RTX. Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.27.

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.