Wesbanco Bank Inc. Sells 8,856 Shares of RTX Co. (NYSE:RTX)

Wesbanco Bank Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 5.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 163,940 shares of the company’s stock after selling 8,856 shares during the period. Wesbanco Bank Inc.’s holdings in RTX were worth $18,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. bought a new position in shares of RTX during the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in RTX during the fourth quarter valued at $39,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter valued at $41,000. Kimelman & Baird LLC purchased a new stake in RTX during the second quarter valued at $46,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX during the third quarter valued at $50,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.0 %

RTX stock opened at $124.49 on Thursday. RTX Co. has a fifty-two week low of $87.96 and a fifty-two week high of $128.70. 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 company has a market capitalization of $165.69 billion, a P/E ratio of 35.57, a PEG ratio of 2.01 and a beta of 0.81. The stock has a 50-day simple moving average of $118.10 and a 200-day simple moving average of $118.06.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RTX shares. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Thursday, December 19th. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Company 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.