Abacus Wealth Partners LLC Has $207,000 Position in RTX Co. (NYSE:RTX)

Abacus Wealth Partners LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,789 shares of the company’s stock after selling 212 shares during the quarter. Abacus Wealth Partners LLC’s holdings in RTX were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in RTX during the 3rd quarter worth $29,000. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter worth about $39,000. Western Pacific Wealth Management LP bought a new stake in RTX in the third quarter valued at approximately $41,000. Kimelman & Baird LLC acquired a new stake in RTX during the 2nd quarter valued at approximately $46,000. Finally, ORG Wealth Partners LLC bought a new position in RTX during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna dropped their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price objective 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Performance

Shares of RTX stock opened at $121.30 on Tuesday. The business’s fifty day simple moving average is $118.03 and its 200 day simple moving average is $117.84. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $161.45 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts anticipate 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.