Fortitude Advisory Group L.L.C. Decreases Stock Position in RTX Co. (NYSE:RTX)

Fortitude Advisory Group L.L.C. reduced its holdings in shares of RTX Co. (NYSE:RTX) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,007 shares of the company’s stock after selling 111 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in RTX were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CX Institutional raised its position in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the last quarter. LRI Investments LLC raised its holdings in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares during the last quarter. Napa Wealth Management purchased a new stake in shares of RTX in the third quarter valued at $1,307,000. Czech National Bank boosted its stake in shares of RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RTX shares. Morgan Stanley upped 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 raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Trading Down 0.5 %

Shares of RTX stock opened at $124.72 on Tuesday. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $118.49 and its two-hundred day moving average price is $118.70. The stock has a market cap of $166.00 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 1.99 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 announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

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.