Summit Financial Wealth Advisors LLC cut its stake in shares of RTX Co. (NYSE:RTX – Free Report) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,192 shares of the company’s stock after selling 3,261 shares during the period. RTX accounts for approximately 2.6% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 11th biggest holding. Summit Financial Wealth Advisors LLC’s holdings in RTX were worth $11,186,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of RTX during the 4th quarter valued at $1,580,608,000. Moneta Group Investment Advisors LLC lifted its holdings in RTX by 87,932.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares in the last quarter. Sanders Capital LLC acquired a new position in RTX in the 1st quarter worth $769,926,000. Morgan Stanley raised its stake in shares of RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. 79.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on RTX shares. Melius lowered shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Monday, September 11th. Citigroup cut their target price on shares of RTX from $113.50 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, July 27th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays lowered shares of RTX from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $100.00 to $75.00 in a research note on Tuesday, September 12th. Finally, DZ Bank downgraded shares of RTX from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $94.06.
RTX Price Performance
Shares of NYSE:RTX traded down $0.12 during trading on Tuesday, reaching $75.06. The company had a trading volume of 2,148,854 shares, compared to its average volume of 5,472,044. The firm’s fifty day moving average is $86.75 and its 200 day moving average is $93.86. The firm has a market capitalization of $109.25 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. RTX Co. has a twelve month low of $73.62 and a twelve month high of $108.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.10.
RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. RTX had a net margin of 7.88% and a return on equity of 9.98%. The company had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. During the same period in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that RTX Co. will post 4.99 EPS for the current year.
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.
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