Mitchell Mcleod Pugh & Williams Inc. Cuts Holdings in RTX Co. (NYSE:RTX)

Mitchell Mcleod Pugh & Williams Inc. lowered its holdings in RTX Co. (NYSE:RTX) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,875 shares of the company’s stock after selling 599 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in RTX were worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RTX. Geode Capital Management LLC grew its holdings in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC boosted its position in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc grew its holdings in RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. Finally, FMR LLC boosted its position in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE:RTX opened at $121.30 on Monday. The company has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81. The firm’s 50 day moving average is $118.10 and its two-hundred day moving average is $117.69. RTX Co. has a fifty-two week low of $84.43 and a fifty-two 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.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that RTX Co. will post 5.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. 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. Susquehanna reduced their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.