Bard Financial Services Inc. decreased its holdings in RTX Co. (NYSE:RTX – Free Report) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,425 shares of the company’s stock after selling 500 shares during the quarter. Bard Financial Services Inc.’s holdings in RTX were worth $2,491,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. IAG Wealth Partners LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $27,000. Quarry LP purchased a new stake in shares of RTX during the 1st quarter valued at about $28,000. Pin Oak Investment Advisors Inc. increased its position in shares of RTX by 60.5% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Rebalance LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $36,000. Finally, Tanglewood Legacy Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on RTX. Melius lowered shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Monday, September 11th. Robert W. Baird reduced their target price on shares of RTX from $115.00 to $100.00 in a report on Wednesday, July 26th. Susquehanna reduced their target price on shares of RTX from $117.00 to $110.00 in a report on Wednesday, July 26th. Royal Bank of Canada lowered shares of RTX from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $105.00 to $82.00 in a report on Tuesday, September 12th. Finally, Bank of America lowered shares of RTX from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $95.00 to $75.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.88.
RTX Stock Up 0.4 %
NYSE RTX opened at $75.80 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.10. The company has a market capitalization of $110.33 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.97. RTX Co. has a one year low of $73.62 and a one year high of $108.84. The stock has a 50 day moving average price of $87.19 and a 200-day moving average price of $94.05.
RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. RTX had a return on equity of 9.98% and a net margin of 7.88%. RTX’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. As a group, equities analysts predict that RTX Co. will post 4.99 EPS for the current fiscal 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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