Boltwood Capital Management lowered its stake in RTX Co. (NYSE:RTX – Free Report) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,995 shares of the company’s stock after selling 170 shares during the quarter. Boltwood Capital Management’s holdings in RTX were worth $391,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in RTX. Cantor Fitzgerald Investment Advisor L.P increased its stake in shares of RTX by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after buying an additional 156,550 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of RTX by 9.2% during the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after buying an additional 931 shares during the period. Ironwood Wealth Management LLC. increased its stake in shares of RTX by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares during the period. AMI Investment Management Inc. increased its stake in shares of RTX by 53.1% during the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after buying an additional 12,316 shares during the period. Finally, LSV Asset Management increased its stake in shares of RTX by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 79.06% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on RTX shares. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America lowered shares of RTX from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $75.00 in a research note on Thursday. Citigroup dropped their price target on shares of RTX from $113.50 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, July 27th. Barclays downgraded RTX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $100.00 to $75.00 in a report on Tuesday. Finally, DZ Bank downgraded RTX from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $95.88.
RTX Stock Performance
NYSE RTX opened at $75.51 on Friday. The firm has a market capitalization of $109.91 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.92 and a beta of 0.97. RTX Co. has a 1-year low of $73.62 and a 1-year high of $108.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.81. The business’s 50-day simple moving average is $87.62 and its 200-day simple moving average is $94.24.
RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. The business had revenue of $18.32 billion for the quarter, compared to analyst estimates of $17.68 billion. RTX had a return on equity of 9.98% and a net margin of 7.88%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. Equities analysts predict that RTX Co. will post 4.99 EPS 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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