Community Trust & Investment Co. Reduces Holdings in RTX Co. (NYSE:RTX)

Community Trust & Investment Co. decreased its position in shares of RTX Co. (NYSE:RTX) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,909 shares of the company’s stock after selling 277 shares during the period. Community Trust & Investment Co.’s holdings in RTX were worth $14,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in RTX by 11.3% during the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after acquiring an additional 3,104,282 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of RTX by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 26,237,984 shares of the company’s stock valued at $2,563,118,000 after buying an additional 696,262 shares during the period. Norges Bank acquired a new position in shares of RTX in the 4th quarter valued at about $1,580,608,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of RTX by 87,932.7% in the 4th 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 period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of RTX by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,169,475 shares of the company’s stock valued at $1,110,937,000 after buying an additional 101,939 shares during the period. Hedge funds and other institutional investors own 79.06% of the company’s stock.

RTX Trading Down 0.6 %

Shares of RTX stock traded down $0.47 during trading on Tuesday, hitting $74.71. The stock had a trading volume of 3,229,104 shares, compared to its average volume of 5,478,460. The stock has a 50 day simple moving average of $86.75 and a 200 day simple moving average of $93.86. The company has a market capitalization of $108.74 billion, a PE ratio of 19.94, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. RTX Co. has a 1 year low of $73.62 and a 1 year high of $108.84.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The firm had revenue of $18.32 billion for the quarter, compared to the consensus estimate of $17.68 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 4.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RTX. JPMorgan Chase & Co. decreased their price target on shares of RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, September 13th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and issued a $95.00 price objective (down from $110.00) on shares of RTX in a research report on Wednesday, July 26th. Citigroup cut their price objective on shares of RTX from $113.50 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, July 27th. Finally, Wells Fargo & Company cut their price objective on shares of RTX from $100.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.06.

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.