Hennessy Advisors Inc. Sells 2,100 Shares of RTX Co. (NYSE:RTX)

Hennessy Advisors Inc. reduced its position in RTX Co. (NYSE:RTX) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,900 shares of the company’s stock after selling 2,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in RTX were worth $6,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

RTX Stock Up 0.7 %

RTX opened at $121.30 on Friday. The business’s fifty day simple moving average is $118.10 and its 200 day simple moving average is $117.45. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. 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 cap of $161.45 billion, a PE ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.