Triangle Securities Wealth Management Sells 449 Shares of RTX Co. (NYSE:RTX)

Triangle Securities Wealth Management lowered its holdings in shares of RTX Co. (NYSE:RTX) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,675 shares of the company’s stock after selling 449 shares during the period. Triangle Securities Wealth Management’s holdings in RTX were worth $2,740,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP bought a new stake in RTX in the 3rd quarter worth about $41,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at approximately $39,000. ORG Wealth Partners LLC bought a new stake in RTX during the third quarter worth $50,000. Finally, Kimelman & Baird LLC purchased a new position in RTX in the second quarter worth $46,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of several research reports. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Citigroup lifted their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley raised their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Stock Performance

NYSE:RTX opened at $121.30 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The business has a 50 day moving average price of $118.10 and a 200-day moving average price of $117.57. The firm has a market cap of $161.45 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

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 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 company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.55 earnings per share for the current 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.