RTX Co. (NYSE:RTX) Position Cut by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lowered its position in shares of RTX Co. (NYSE:RTX) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,330 shares of the company’s stock after selling 117 shares during the period. ZWJ Investment Counsel Inc.’s holdings in RTX were worth $2,468,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX during the third quarter worth approximately $41,000. Modus Advisors LLC bought a new position in RTX in the 4th quarter worth approximately $39,000. ORG Wealth Partners LLC acquired a new stake in RTX in the 3rd quarter valued at approximately $50,000. Finally, Kimelman & Baird LLC bought a new stake in RTX during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RTX. Susquehanna lowered their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

RTX opened at $121.30 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 firm has a market cap of $161.45 billion, a PE ratio of 34.66, a P/E/G ratio of 1.93 and a beta of 0.81. The business has a fifty day simple moving average of $118.03 and a 200-day simple moving average of $117.84. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results 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 business had revenue of $20.09 billion during 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%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts predict that RTX Co. will post 5.56 EPS for the current fiscal 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.