Royal Fund Management LLC Sells 62,160 Shares of RTX Co. (NYSE:RTX)

Royal Fund Management LLC reduced its stake in RTX Co. (NYSE:RTX) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,236 shares of the company’s stock after selling 62,160 shares during the period. Royal Fund Management LLC’s holdings in RTX were worth $7,250,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter worth about $39,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the 3rd quarter worth about $41,000. Kimelman & Baird LLC bought a new stake in shares of RTX during the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of RTX during the 3rd quarter worth about $50,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $121.30 on Tuesday. The firm has a market capitalization of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. 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 firm’s 50 day moving average is $118.03 and its 200 day moving average is $117.84. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. Equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley lifted their price objective 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. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Finally, Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.87.

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.