Sky Investment Group LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Sky Investment Group LLC cut its stake in RTX Co. (NYSE:RTX) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,731 shares of the company’s stock after selling 150 shares during the period. RTX makes up about 1.7% of Sky Investment Group LLC’s holdings, making the stock its 17th largest holding. Sky Investment Group LLC’s holdings in RTX were worth $9,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in RTX by 4.6% during the second quarter. Pacer Advisors Inc. now owns 95,289 shares of the company’s stock worth $9,566,000 after purchasing an additional 4,148 shares during the last quarter. Sei Investments Co. grew its stake in shares of RTX by 1.7% in the 2nd quarter. Sei Investments Co. now owns 637,707 shares of the company’s stock valued at $64,018,000 after buying an additional 10,928 shares during the period. Thrivent Financial for Lutherans increased its holdings 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 worth $29,105,000 after buying an additional 55,196 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of RTX by 6.8% during the 2nd quarter. ProShare Advisors LLC now owns 183,653 shares of the company’s stock worth $18,437,000 after buying an additional 11,770 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in RTX by 3,170.6% in the second 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. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $121.30 on Tuesday. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The stock has a market capitalization of $161.45 billion, a PE ratio of 34.66, a PEG 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. The stock has a 50-day simple moving average of $118.03 and a 200-day simple moving average of $117.84.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RTX shares. Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, 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. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus 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.