RTX Co. (NYSE:RTX) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 394,052 shares of the company’s stock after selling 4,777 shares during the period. Douglas Lane & Associates LLC’s holdings in RTX were worth $45,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth about $39,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth about $41,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the 3rd quarter valued at about $41,000. Finally, Kimelman & Baird LLC acquired a new position in shares of RTX in the 2nd quarter worth approximately $46,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX traded up $0.89 during mid-day trading on Wednesday, hitting $115.69. The company’s stock had a trading volume of 1,681,091 shares, compared to its average volume of 3,018,451. The stock’s 50-day moving average is $118.48 and its two-hundred day moving average is $116.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a one year low of $84.43 and a one year high of $128.70. The firm has a market capitalization of $153.99 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

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.