Tributary Capital Management LLC Sells 250 Shares of RTX Co. (NYSE:RTX)

Tributary Capital Management LLC decreased its position in RTX Co. (NYSE:RTX) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,094 shares of the company’s stock after selling 250 shares during the period. Tributary Capital Management LLC’s holdings in RTX were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new position in RTX in the fourth quarter valued at approximately $39,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth $41,000. Kimelman & Baird LLC bought a new stake in shares of RTX during the 2nd quarter valued at $46,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of RTX in the 3rd quarter valued at $50,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Price Performance

Shares of NYSE RTX opened at $125.23 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50-day moving average of $118.38 and a 200-day moving average of $118.29. The stock has a market capitalization of $166.69 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.99 and a beta of 0.81. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $128.70.

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

RTX Profile

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.