Eagle Bay Advisors LLC Sells 153 Shares of RTX Co. (NYSE:RTX)

Eagle Bay Advisors LLC cut its holdings in RTX Co. (NYSE:RTX) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,884 shares of the company’s stock after selling 153 shares during the period. Eagle Bay Advisors LLC’s holdings in RTX were worth $218,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC grew its holdings in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Napa Wealth Management bought a new position in RTX in the 3rd quarter worth about $1,307,000. Mirae Asset Global Investments Co. Ltd. grew its stake in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares in the last quarter. Kennebec Savings Bank bought a new position in RTX in the 3rd quarter worth about $953,000. Finally, Point72 Hong Kong Ltd increased its holdings in RTX by 83.5% during the third quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after buying an additional 37,671 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company increased their price objective on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.87.

RTX Price Performance

RTX stock traded up $1.76 during mid-day trading on Monday, reaching $116.87. 1,625,803 shares of the company’s stock were exchanged, compared to its average volume of 3,379,275. The company has a market cap of $155.56 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The stock’s 50 day moving average is $118.18 and its 200 day moving average is $117.01. 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 Co. has a 12-month low of $84.43 and a 12-month high of $128.70.

RTX (NYSE:RTX) last issued 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 company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, research analysts expect that RTX Co. will post 5.56 EPS for the current year.

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.