Alpha Cubed Investments LLC Has $1.75 Million Stock Position in RTX Co. (NYSE:RTX)

Alpha Cubed Investments LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 37.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,157 shares of the company’s stock after selling 9,167 shares during the quarter. Alpha Cubed Investments LLC’s holdings in RTX were worth $1,754,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Western Pacific Wealth Management LP acquired a new position in RTX in the third quarter worth $41,000. Kimelman & Baird LLC bought a new stake in RTX during the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of RTX during the third quarter valued at approximately $50,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Citigroup lifted their target price on shares of 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 research report on Tuesday, October 8th. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Stock Up 0.7 %

RTX stock opened at $121.30 on Tuesday. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The firm has a market capitalization of $161.45 billion, a PE ratio of 34.66, a P/E/G ratio of 1.93 and a beta of 0.81. The company’s 50-day moving average is $118.03 and its 200-day moving average is $117.84. 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 (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share 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.