RTX Co. (NYSE:RTX) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its position in RTX Co. (NYSE:RTXFree Report) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 98,332 shares of the company’s stock after selling 2,035 shares during the period. Panagora Asset Management Inc.’s holdings in RTX were worth $7,077,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RTX. Quarry LP purchased a new stake in RTX during the first quarter worth about $28,000. VitalStone Financial LLC boosted its holdings in RTX by 136.5% during the second quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. Strengthening Families & Communities LLC acquired a new position in RTX during the third quarter worth about $28,000. True Wealth Design LLC acquired a new position in RTX during the fourth quarter worth about $47,000. Finally, Legacy Financial Group LLC acquired a new position in RTX during the third quarter worth about $35,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Redburn Atlantic cut shares of RTX from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 15th. Alembic Global Advisors initiated coverage on shares of RTX in a research report on Friday, September 29th. They set a “neutral” rating and a $81.00 target price for the company. Morgan Stanley lifted their target price on shares of RTX from $83.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft lowered shares of RTX from a “hold” rating to a “sell” rating and cut their price objective for the company from $79.00 to $68.00 in a research report on Friday, October 27th. Finally, TheStreet lowered shares of RTX from a “b-” rating to a “c” rating in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RTX has a consensus rating of “Hold” and an average price target of $89.06.

View Our Latest Stock Report on RTX

RTX Price Performance

RTX opened at $85.05 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.84. The company has a 50 day moving average of $82.62 and a two-hundred day moving average of $82.81. The company has a market cap of $122.29 billion, a P/E ratio of 39.56, a P/E/G ratio of 1.70 and a beta of 0.91.

RTX (NYSE:RTXGet Free Report) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.06. RTX had a net margin of 4.76% and a return on equity of 10.05%. The company had revenue of $19 billion during the quarter, compared to the consensus estimate of $18.60 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect that RTX Co. will post 5 earnings per share for the current year.

RTX Profile

(Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.

Further Reading

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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