Gateway Investment Advisers LLC Lowers Stock Position in RTX Co. (NYSE:RTX)

Gateway Investment Advisers LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,355 shares of the company’s stock after selling 3,594 shares during the quarter. RTX makes up approximately 0.7% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 26th biggest holding. Gateway Investment Advisers LLC’s holdings in RTX were worth $63,687,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RTX. LRI Investments LLC boosted its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares in the last quarter. Napa Wealth Management acquired a new stake in RTX in the third quarter valued at approximately $1,307,000. Czech National Bank grew its holdings in RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new stake in shares of RTX in the 3rd quarter worth $953,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX traded up $0.53 during trading hours on Thursday, reaching $119.62. The company had a trading volume of 198,291 shares, compared to its average volume of 3,565,912. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70. The firm has a market cap of $159.22 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The business’s 50 day moving average price is $118.14 and its 200-day moving average price is $117.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.55 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on RTX. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. UBS Group lifted their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.87.

RTX 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.