Cohen Klingenstein LLC Sells 11,004 Shares of RTX Co. (NYSE:RTX)

Cohen Klingenstein LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 161,027 shares of the company’s stock after selling 11,004 shares during the period. RTX makes up 0.6% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 25th biggest position. Cohen Klingenstein LLC’s holdings in RTX were worth $18,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after buying an additional 355 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of RTX by 36.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after acquiring an additional 2,552 shares during the last quarter. Edgestream Partners L.P. grew its holdings in RTX by 140.5% in the 2nd quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after acquiring an additional 4,686 shares during the last quarter. E Fund Management Co. Ltd. bought a new stake in RTX during the 2nd quarter valued at approximately $201,000. Finally, Intech Investment Management LLC boosted its position in shares of RTX by 49.4% during the second quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock valued at $3,820,000 after purchasing an additional 12,583 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 0.7 %

RTX stock opened at $121.30 on Friday. RTX Co. has a twelve month low of $84.43 and a twelve month high of $128.70. The business has a fifty day moving average of $118.10 and a two-hundred day moving average of $117.45. The firm has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its quarterly 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. The business 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 business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 earnings per share. On average, analysts forecast that RTX Co. will post 5.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on RTX. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna dropped their target price 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. Wells Fargo & Company raised their price target on RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, 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.