Nvest Financial LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Nvest Financial LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,442 shares of the company’s stock after selling 1,185 shares during the period. RTX comprises about 1.4% of Nvest Financial LLC’s investment portfolio, making the stock its 20th biggest position. Nvest Financial LLC’s holdings in RTX were worth $2,828,000 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 RTX. Robeco Institutional Asset Management B.V. raised its stake in RTX by 5.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 383,440 shares of the company’s stock valued at $44,372,000 after purchasing an additional 18,219 shares during the period. Foster Group Inc. bought a new stake in shares of RTX in the 4th quarter worth about $213,000. Gateway Wealth Partners LLC increased its stake in RTX by 107.3% during the fourth quarter. Gateway Wealth Partners LLC now owns 9,855 shares of the company’s stock worth $1,140,000 after acquiring an additional 5,100 shares during the last quarter. Barry Investment Advisors LLC lifted its position in RTX by 1.0% in the fourth quarter. Barry Investment Advisors LLC now owns 55,044 shares of the company’s stock worth $6,370,000 after buying an additional 518 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of RTX by 12.7% during the 4th quarter. SteelPeak Wealth LLC now owns 5,476 shares of the company’s stock worth $634,000 after purchasing an additional 615 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $128.21 on Wednesday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The firm has a market capitalization of $170.65 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The business has a 50 day simple moving average of $118.67 and a 200-day simple moving average of $118.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.97% and a return on equity of 11.96%. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

RTX has been the topic of several research analyst reports. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Susquehanna reduced their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada upgraded 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 note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.60.

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.