Eastover Investment Advisors LLC Sells 1,509 Shares of RTX Co. (NYSE:RTX)

Eastover Investment Advisors LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,609 shares of the company’s stock after selling 1,509 shares during the period. RTX accounts for about 3.4% of Eastover Investment Advisors LLC’s portfolio, making the stock its 11th biggest holding. Eastover Investment Advisors LLC’s holdings in RTX were worth $7,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC grew its position in shares of RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after purchasing an additional 355 shares during the last quarter. Federated Hermes Inc. boosted its stake in RTX by 36.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after purchasing an additional 2,552 shares during the period. Parallel Advisors LLC grew its holdings in RTX by 1.1% in the 2nd quarter. Parallel Advisors LLC now owns 34,379 shares of the company’s stock valued at $3,451,000 after buying an additional 381 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in RTX by 33.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 16,370 shares of the company’s stock worth $1,643,000 after buying an additional 4,070 shares during the period. Finally, Diversify Wealth Management LLC acquired a new stake in shares of RTX during the second quarter worth $3,429,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on RTX shares. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Down 0.7 %

RTX stock opened at $115.06 on Monday. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $153.15 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The firm has a 50-day moving average price of $118.18 and a 200-day moving average price of $117.01.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Co. will post 5.56 EPS 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 in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.