Grimes & Company Inc. Sells 957 Shares of RTX Co. (NYSE:RTX)

Grimes & Company Inc. lessened its stake in RTX Co. (NYSE:RTX) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,644 shares of the company’s stock after selling 957 shares during the period. Grimes & Company Inc.’s holdings in RTX were worth $5,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the 3rd quarter worth approximately $29,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Modus Advisors LLC purchased a new stake in RTX during the 4th quarter valued at $39,000. ORG Wealth Partners LLC purchased a new stake in RTX during the 3rd quarter valued at $50,000. Finally, Kimelman & Baird LLC purchased a new stake in RTX during the 2nd quarter valued at $46,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Susquehanna dropped their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Price Performance

NYSE:RTX opened at $125.23 on Friday. RTX Co. has a one year low of $88.90 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $166.69 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.99 and a beta of 0.81. The firm’s fifty day moving average is $118.38 and its two-hundred day moving average is $118.29.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS 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 company earned $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts expect 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.