Cypress Wealth Services LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Cypress Wealth Services LLC reduced its position in RTX Co. (NYSE:RTX) by 33.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,175 shares of the company’s stock after selling 1,070 shares during the period. Cypress Wealth Services LLC’s holdings in RTX were worth $252,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock valued at $170,000 after acquiring an additional 355 shares in the last quarter. Federated Hermes Inc. increased its position in shares of RTX by 36.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock worth $965,000 after purchasing an additional 2,552 shares during the last quarter. Edgestream Partners L.P. raised its stake 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 valued at $805,000 after purchasing an additional 4,686 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of RTX during the second quarter worth about $201,000. Finally, Intech Investment Management LLC grew its stake in RTX by 49.4% in the second quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock worth $3,820,000 after purchasing an additional 12,583 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research analyst reports. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Six equities 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 stock. Based on data from MarketBeat.com, the company 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 Friday. The business has a 50 day simple moving average of $118.10 and a 200 day simple moving average of $117.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.84 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 issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, equities research analysts anticipate that RTX Co. will post 5.55 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.