Highland Capital Management LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Highland Capital Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,886 shares of the company’s stock after selling 2,769 shares during the period. RTX comprises approximately 0.7% of Highland Capital Management LLC’s portfolio, making the stock its 28th largest position. Highland Capital Management LLC’s holdings in RTX were worth $12,716,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in RTX in the third quarter valued at $29,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter worth about $41,000. ORG Wealth Partners LLC acquired a new position in RTX during the third quarter worth about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 2.4 %

NYSE RTX opened at $125.25 on Thursday. 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 company’s 50 day simple moving average is $118.79 and its 200 day simple moving average is $118.93. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a market capitalization of $166.71 billion, a P/E ratio of 35.79, a PEG ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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 expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $161.73.

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.