Cravens & Co Advisors LLC lowered its holdings in RTX Co. (NYSE:RTX – Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,907 shares of the company’s stock after selling 135 shares during the period. RTX comprises 0.9% of Cravens & Co Advisors LLC’s portfolio, making the stock its 19th largest position. Cravens & Co Advisors LLC’s holdings in RTX were worth $970,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jackson Hole Capital Partners LLC lifted its holdings in shares of RTX by 0.3% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 39,562 shares of the company’s stock worth $3,993,000 after purchasing an additional 100 shares during the period. Tyler Stone Wealth Management lifted its position in shares of RTX by 5.0% in the fourth quarter. Tyler Stone Wealth Management now owns 2,097 shares of the company’s stock valued at $212,000 after acquiring an additional 100 shares in the last quarter. Argent Advisors Inc. grew its holdings in shares of RTX by 2.8% during the first quarter. Argent Advisors Inc. now owns 3,720 shares of the company’s stock worth $364,000 after buying an additional 100 shares in the last quarter. Legal Advantage Investments Inc. grew its stake in RTX by 0.5% in the 1st quarter. Legal Advantage Investments Inc. now owns 18,734 shares of the company’s stock worth $1,835,000 after acquiring an additional 101 shares during the period. Finally, Element Wealth LLC grew its holdings in RTX by 3.7% in the 1st quarter. Element Wealth LLC now owns 2,893 shares of the company’s stock valued at $283,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 79.06% of the company’s stock.
Analyst Ratings Changes
RTX has been the subject of several research reports. Barclays downgraded shares of RTX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $75.00 in a research note on Tuesday. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $95.00 price objective (down from $110.00) on shares of RTX in a report on Wednesday, July 26th. TD Cowen reduced their price objective on RTX from $109.00 to $99.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada downgraded RTX from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $105.00 to $82.00 in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $98.33.
RTX Price Performance
Shares of RTX traded up $0.64 during trading hours on Wednesday, reaching $76.20. 5,672,619 shares of the stock traded hands, compared to its average volume of 5,311,967. The company has a market cap of $110.91 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. RTX Co. has a 52-week low of $73.66 and a 52-week high of $108.84. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $88.53 and its two-hundred day moving average price is $94.51.
RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The business had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5 earnings per share for the current year.
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
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