RTX Co. (NYSE:RTX) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 43,644 shares of the company’s stock after selling 957 shares during the period. Grimes & Company Inc.’s holdings in RTX were worth $5,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in RTX in the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP purchased a new position in RTX in the 3rd quarter worth approximately $41,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. ORG Wealth Partners LLC purchased a new position in RTX in the 3rd quarter worth approximately $50,000. Finally, Kimelman & Baird LLC purchased a new position in RTX in the 2nd quarter worth approximately $46,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX opened at $125.23 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $166.69 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.99 and a beta of 0.81. The company’s 50 day simple moving average is $118.38 and its 200 day simple moving average is $118.29. RTX Co. has a 1 year low of $88.90 and a 1 year high of $128.70.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $153.00 in a report on Tuesday. Barclays lifted 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 shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

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.