Weybosset Research & Management LLC Cuts Stock Position in RTX Co. (NYSE:RTX)

Weybosset Research & Management LLC lowered its holdings in RTX Co. (NYSE:RTX) by 51.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,217 shares of the company’s stock after selling 2,312 shares during the period. Weybosset Research & Management LLC’s holdings in RTX were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mather Group LLC. raised its stake in shares of RTX by 31.8% in the fourth quarter. Mather Group LLC. now owns 11,212 shares of the company’s stock valued at $1,132,000 after buying an additional 2,704 shares during the period. Banque Pictet & Cie SA raised its stake in shares of RTX by 13.0% during the 1st quarter. Banque Pictet & Cie SA now owns 19,106 shares of the company’s stock valued at $1,871,000 after purchasing an additional 2,200 shares during the period. Cypress Asset Management Inc. TX raised its stake in shares of RTX by 6.9% during the 1st quarter. Cypress Asset Management Inc. TX now owns 38,884 shares of the company’s stock valued at $3,808,000 after purchasing an additional 2,513 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of RTX by 4.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,951,711 shares of the company’s stock valued at $8,016,000 after purchasing an additional 202,376 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of RTX by 46.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 123,768 shares of the company’s stock valued at $12,121,000 after purchasing an additional 39,387 shares during the period. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on RTX from $115.00 to $100.00 in a research note on Wednesday, July 26th. TD Cowen decreased their price objective on RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 12th. Melius cut RTX from an “overweight” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Monday, September 11th. Finally, Barclays cut RTX from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $100.00 to $75.00 in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.06.

RTX Price Performance

RTX opened at $75.17 on Tuesday. The stock has a 50-day moving average price of $86.75 and a 200-day moving average price of $93.86. RTX Co. has a 12-month low of $73.62 and a 12-month high of $108.84. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $109.41 billion, a P/E ratio of 19.94, a PEG ratio of 1.87 and a beta of 0.97.

RTX (NYSE:RTX) last issued its earnings results 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 company had revenue of $18.32 billion during the quarter, compared to analysts’ expectations of $17.68 billion. RTX had a return on equity of 9.98% and a net margin of 7.88%. RTX’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. Equities 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.