Burns J W & Co. Inc. NY Sells 1,161 Shares of RTX Co. (NYSE:RTX)

Burns J W & Co. Inc. NY decreased its holdings in RTX Co. (NYSE:RTX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,161 shares of the company’s stock after selling 1,161 shares during the period. RTX accounts for approximately 1.5% of Burns J W & Co. Inc. NY’s holdings, making the stock its 16th biggest holding. Burns J W & Co. Inc. NY’s holdings in RTX were worth $9,224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Mather Group LLC. lifted its stake in RTX by 31.8% in the fourth quarter. Mather Group LLC. now owns 11,212 shares of the company’s stock worth $1,132,000 after purchasing an additional 2,704 shares during the last quarter. Banque Pictet & Cie SA lifted its stake in RTX by 13.0% in the first quarter. Banque Pictet & Cie SA now owns 19,106 shares of the company’s stock worth $1,871,000 after purchasing an additional 2,200 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in RTX by 6.9% in the first quarter. Cypress Asset Management Inc. TX now owns 38,884 shares of the company’s stock worth $3,808,000 after purchasing an additional 2,513 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in RTX by 4.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,951,711 shares of the company’s stock worth $8,016,000 after purchasing an additional 202,376 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in RTX by 46.7% in the first quarter. Avantax Advisory Services Inc. now owns 123,768 shares of the company’s stock worth $12,121,000 after purchasing an additional 39,387 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Argus downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Susquehanna decreased their price objective on shares of RTX from $117.00 to $110.00 in a research note on Wednesday, July 26th. Wells Fargo & Company lowered their price target on RTX from $100.00 to $78.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $95.00 price target (down previously from $110.00) on shares of RTX in a report on Wednesday, July 26th. Finally, Citigroup lowered their price target on RTX from $113.50 to $95.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.06.

RTX Stock Performance

Shares of NYSE:RTX opened at $75.17 on Tuesday. The company has a market capitalization of $109.41 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. RTX Co. has a 52 week low of $73.62 and a 52 week high of $108.84. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $86.75 and a 200 day moving average of $93.86.

RTX (NYSE:RTX) 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 business had revenue of $18.32 billion for 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%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, sell-side analysts predict that RTX Co. will post 4.99 earnings per share for the current fiscal year.

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.