Curbstone Financial Management Corp Sells 420 Shares of RTX Co. (NYSE:RTX)

Curbstone Financial Management Corp lessened its position in RTX Co. (NYSE:RTX) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,480 shares of the company’s stock after selling 420 shares during the quarter. Curbstone Financial Management Corp’s holdings in RTX were worth $2,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in RTX in the 4th quarter worth $1,580,608,000. Moneta Group Investment Advisors LLC grew its stake in shares of RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after buying an additional 13,598,794 shares during the last quarter. Sanders Capital LLC purchased a new position in shares of RTX in the first quarter worth about $769,926,000. Morgan Stanley boosted its holdings in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after acquiring an additional 3,104,282 shares during the period. Finally, Capital World Investors grew its position in RTX by 32.8% during the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after acquiring an additional 2,256,475 shares during the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

RTX Stock Down 1.4 %

NYSE:RTX traded down $1.04 during trading hours on Thursday, reaching $74.52. 2,952,613 shares of the company traded hands, compared to its average volume of 5,335,267. RTX Co. has a 1 year low of $73.62 and a 1 year high of $108.84. The stock has a market capitalization of $108.46 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.14 and a beta of 0.97. The business’s 50-day moving average price is $88.07 and its two-hundred day moving average price is $94.37. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The business had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. RTX had a net margin of 7.88% and a return on equity of 9.98%. RTX’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. Analysts predict that RTX Co. will post 5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RTX. Bank of America lowered RTX from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $75.00 in a research note on Thursday. TD Cowen dropped their price target on shares of RTX from $109.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday. DZ Bank cut shares of RTX from a “buy” rating to a “hold” rating and set a $79.00 price objective on the stock. in a research report on Thursday. Royal Bank of Canada lowered shares of RTX from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $82.00 in a report on Tuesday. Finally, Melius downgraded RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $95.88.

RTX Company Profile

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.