Canton Hathaway LLC Has $1.40 Million Stake in RTX Co. (NYSE:RTX)

Canton Hathaway LLC decreased its stake in RTX Co. (NYSE:RTX) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,321 shares of the company’s stock after selling 1,120 shares during the quarter. Canton Hathaway LLC’s holdings in RTX were worth $1,403,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. IAG Wealth Partners LLC bought a new stake in shares of RTX during the first quarter worth $27,000. Quarry LP bought a new stake in shares of RTX during the first quarter worth $28,000. Pin Oak Investment Advisors Inc. raised its position in shares of RTX by 60.5% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 353 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Rebalance LLC bought a new stake in shares of RTX during the fourth quarter worth $36,000. Finally, Tanglewood Legacy Advisors LLC bought a new stake in shares of RTX during the fourth quarter worth $41,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Robert W. Baird decreased their price objective on RTX from $115.00 to $100.00 in a research note on Wednesday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $95.00 price objective (down from $110.00) on shares of RTX in a research note on Wednesday, July 26th. JPMorgan Chase & Co. decreased their price objective on RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, September 13th. Finally, Susquehanna decreased their target price on RTX from $117.00 to $110.00 in a research note on Wednesday, July 26th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.06.

RTX Stock Performance

RTX opened at $75.55 on Monday. RTX Co. has a 52-week low of $73.62 and a 52-week high of $108.84. The firm has a market capitalization of $109.96 billion, a PE ratio of 20.04, a PEG ratio of 1.92 and a beta of 0.97. 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 business’s 50-day simple moving average is $87.19 and its 200 day simple moving average is $94.02.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.11. The firm 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 business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, sell-side analysts expect that RTX Co. will post 4.99 earnings per share for the current fiscal year.

RTX 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.