Wealth Effects LLC Sells 1,065 Shares of RTX Co. (NYSE:RTX)

Wealth Effects LLC decreased its holdings in RTX Co. (NYSE:RTX) by 16.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,523 shares of the company’s stock after selling 1,065 shares during the period. Wealth Effects LLC’s holdings in RTX were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RTX. Dark Forest Capital Management LP bought a new position in shares of RTX during the 2nd quarter worth approximately $248,000. Ascent Group LLC acquired a new stake in RTX during the 2nd quarter worth about $251,000. Creative Planning increased its holdings in RTX by 7.2% in the 2nd quarter. Creative Planning now owns 484,665 shares of the company’s stock worth $48,656,000 after buying an additional 32,473 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of RTX in the second quarter worth $253,000. Finally, NewEdge Advisors LLC grew its position in RTX by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 126,267 shares of the company’s stock worth $12,676,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $124.72 on Tuesday. The business has a 50-day simple moving average of $118.49 and a 200-day simple moving average of $118.70. The company has a market cap of $166.00 billion, a PE ratio of 35.63, a P/E/G ratio of 1.99 and a beta of 0.81. RTX Co. has a one year low of $88.90 and a one year high of $128.70. 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) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. On average, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Barclays lifted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Susquehanna cut their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.27.

About RTX

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.