Harbor Investment Advisory LLC Sells 150 Shares of RTX Co. (NYSE:RTX)

Harbor Investment Advisory LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,654 shares of the company’s stock after selling 150 shares during the quarter. Harbor Investment Advisory LLC’s holdings in RTX were worth $1,580,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of RTX by 4.6% during the second quarter. Pacer Advisors Inc. now owns 95,289 shares of the company’s stock valued at $9,566,000 after purchasing an additional 4,148 shares during the period. Sei Investments Co. boosted its position in RTX by 1.7% during 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 grew its holdings in RTX by 23.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 289,915 shares of the company’s stock worth $29,105,000 after acquiring an additional 55,196 shares during the last quarter. ProShare Advisors LLC increased its position in shares of RTX by 6.8% in the second quarter. ProShare Advisors LLC now owns 183,653 shares of the company’s stock valued at $18,437,000 after acquiring an additional 11,770 shares during the period. Finally, Frank Rimerman Advisors LLC raised its stake in shares of RTX by 3,170.6% during 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. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.7 %

RTX stock opened at $121.30 on Tuesday. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The company has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The business’s fifty day simple moving average is $118.03 and its two-hundred day simple moving average is $117.84. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

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, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded 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 report on Thursday, January 2nd. Susquehanna decreased their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Barclays lifted their price target 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 upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.