Carmel Capital Management L.L.C. Trims Position in RTX Co. (NYSE:RTX)

Carmel Capital Management L.L.C. lowered its position in RTX Co. (NYSE:RTX) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,346 shares of the company’s stock after selling 1,050 shares during the quarter. RTX comprises about 3.4% of Carmel Capital Management L.L.C.’s holdings, making the stock its 13th biggest holding. Carmel Capital Management L.L.C.’s holdings in RTX were worth $9,066,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Financial Partners Group LLC raised its stake in shares of RTX by 20.5% in the 4th quarter. Financial Partners Group LLC now owns 10,940 shares of the company’s stock valued at $1,266,000 after acquiring an additional 1,858 shares during the period. Cornerstone Wealth Management LLC lifted its stake in RTX by 3.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 52,732 shares of the company’s stock worth $6,102,000 after purchasing an additional 1,887 shares in the last quarter. Brighton Jones LLC grew its stake in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after buying an additional 3,332 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in shares of RTX by 10.1% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 4,766 shares of the company’s stock valued at $577,000 after buying an additional 438 shares during the period. Finally, New Century Financial Group LLC lifted its stake in RTX by 502.3% during the 4th quarter. New Century Financial Group LLC now owns 10,492 shares of the company’s stock worth $1,216,000 after acquiring an additional 8,750 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RTX. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Susquehanna cut their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Stock Performance

Shares of RTX opened at $126.34 on Friday. RTX Co. has a 1 year low of $88.70 and a 1 year high of $128.70. The stock has a market capitalization of $168.17 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.99 and a beta of 0.81. 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 company’s fifty day moving average is $118.25 and its two-hundred day moving average is $118.12.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. On average, sell-side analysts predict that RTX Co. will post 5.56 earnings per share 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.