Janney Montgomery Scott LLC Sells 15,700 Shares of RTX Co. (NYSE:RTX)

Janney Montgomery Scott LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 903,616 shares of the company’s stock after selling 15,700 shares during the period. Janney Montgomery Scott LLC’s holdings in RTX were worth $104,566,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Legal & General Group Plc grew its position in shares of 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. grew 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 purchasing an additional 408,551 shares during the last quarter. Finally, FMR LLC grew its position in shares of RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

NYSE:RTX opened at $124.49 on Thursday. RTX Co. has a 1 year low of $87.96 and a 1 year high of $128.70. The firm has a 50 day moving average of $118.10 and a 200-day moving average of $118.06. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $165.69 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RTX. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a research report on Tuesday. Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna decreased their target price 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, Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.