Ballast Inc. Has $1.45 Million Stake in RTX Co. (NYSE:RTX)

Ballast Inc. lessened its position in RTX Co. (NYSE:RTX) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,550 shares of the company’s stock after selling 299 shares during the period. Ballast Inc.’s holdings in RTX were worth $1,452,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in shares of RTX by 26.4% during the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after acquiring an additional 355 shares during the last quarter. Federated Hermes Inc. lifted its holdings in RTX by 36.1% in the second quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after buying an additional 2,552 shares during the period. Edgestream Partners L.P. raised its position in shares of RTX by 140.5% in the 2nd quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after acquiring an additional 4,686 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of RTX by 49.4% in the 2nd quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock valued at $3,820,000 after purchasing an additional 12,583 shares during the period. Finally, Brighton Jones LLC increased its holdings in RTX by 5.1% in the second quarter. Brighton Jones LLC now owns 14,841 shares of the company’s stock worth $1,490,000 after purchasing an additional 718 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RTX shares. Susquehanna cut their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

RTX stock opened at $121.30 on Friday. The stock has a market cap of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 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. The company’s 50 day moving average price is $118.10 and its two-hundred day moving average price is $117.57. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during 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%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. On average, equities analysts predict that RTX Co. will post 5.55 earnings per share 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.