Park Place Capital Corp trimmed its position in shares of RTX Co. (NYSE:RTX – Free Report) by 26.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,944 shares of the company’s stock after selling 1,452 shares during the period. Park Place Capital Corp’s holdings in RTX were worth $456,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Thrivent Financial for Lutherans raised its position in shares of RTX by 23.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 289,915 shares of the company’s stock valued at $29,105,000 after purchasing an additional 55,196 shares during the period. ProShare Advisors LLC increased its holdings in RTX by 6.8% in the 2nd quarter. ProShare Advisors LLC now owns 183,653 shares of the company’s stock valued at $18,437,000 after acquiring an additional 11,770 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in RTX by 3,170.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,569 shares of the company’s stock valued at $860,000 after acquiring an additional 8,307 shares during the last quarter. Gabelli Funds LLC increased its holdings in RTX by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 56,640 shares of the company’s stock valued at $5,686,000 after acquiring an additional 3,000 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of RTX in the 2nd quarter worth $357,000. 86.50% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on RTX shares. Susquehanna dropped their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.
RTX Stock Performance
Shares of NYSE RTX opened at $123.99 on Wednesday. The company’s fifty day moving average price is $118.08 and its 200 day moving average price is $118.01. RTX Co. has a 1 year low of $87.96 and a 1 year high of $128.70. The company has a market capitalization of $165.03 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.
RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.
RTX Company 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.
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