Patriot Investment Management Group Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Patriot Investment Management Group Inc. trimmed its position in RTX Co. (NYSE:RTX) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,255 shares of the company’s stock after selling 932 shares during the period. Patriot Investment Management Group Inc.’s holdings in RTX were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. LRI Investments LLC raised its position in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management purchased a new position in shares of RTX during the 3rd quarter valued at approximately $1,307,000. Czech National Bank grew its stake in RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new position in RTX during the fourth quarter worth $8,387,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $158.27.

RTX Stock Performance

Shares of RTX opened at $126.34 on Friday. The stock has a market capitalization of $168.17 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81. The company’s fifty day moving average is $118.25 and its two-hundred day moving average is $118.12. 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 Co. has a 1 year low of $88.70 and a 1 year high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current 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.