Romano Brothers AND Company Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Romano Brothers AND Company lessened its stake in shares of RTX Co. (NYSE:RTX) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,001 shares of the company’s stock after selling 134 shares during the quarter. RTX comprises about 0.9% of Romano Brothers AND Company’s holdings, making the stock its 24th biggest holding. Romano Brothers AND Company’s holdings in RTX were worth $7,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX in the 3rd quarter valued at $41,000. Modus Advisors LLC purchased a new stake in RTX in the 4th quarter valued at $39,000. ORG Wealth Partners LLC acquired a new stake in RTX during the 3rd quarter worth $50,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of RTX during the second quarter worth about $46,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

RTX Price Performance

Shares of NYSE:RTX opened at $121.30 on Friday. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The firm has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The business’s 50 day simple moving average is $118.10 and its 200-day simple moving average is $117.57. 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 posted its earnings results 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. The company 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%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts forecast that RTX Co. will post 5.55 earnings per share for the current fiscal year.

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.