RTX Co. (NYSE:RTX) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC reduced its holdings in RTX Co. (NYSE:RTX) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,820 shares of the company’s stock after selling 105 shares during the quarter. RTX accounts for 3.1% of Oak Asset Management LLC’s portfolio, making the stock its 6th largest position. Oak Asset Management LLC’s holdings in RTX were worth $8,427,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. LRI Investments LLC increased its stake in shares of RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management acquired a new position in shares of RTX during the 3rd quarter valued at $1,307,000. Czech National Bank raised its stake in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares during the period. Finally, Kennebec Savings Bank bought a new position in RTX during the third quarter valued at about $953,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 2.4 %

RTX opened at $117.85 on Tuesday. The company has a market capitalization of $156.86 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.08 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 Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The business has a 50-day moving average of $118.18 and a 200-day moving average of $117.14.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RTX shares. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six research 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 company. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

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.