Cohen Klingenstein LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Cohen Klingenstein LLC lowered its position in RTX Co. (NYSE:RTX) by 6.4% during the fourth quarter, HoldingsChannel reports. The firm owned 161,027 shares of the company’s stock after selling 11,004 shares during the period. RTX comprises 0.6% of Cohen Klingenstein LLC’s holdings, making the stock its 25th biggest position. Cohen Klingenstein LLC’s holdings in RTX were worth $18,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $39,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC acquired a new position in shares of RTX in the second quarter worth $46,000. Finally, ORG Wealth Partners LLC acquired a new position in RTX during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.7 %

RTX stock opened at $121.30 on Friday. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70. The company’s fifty day simple moving average is $118.10 and its 200-day simple moving average is $117.45. 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 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.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, sell-side analysts forecast that RTX Co. will post 5.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.87.

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.