Coastwise Capital Group LLC Sells 883 Shares of RTX Co. (NYSE:RTX)

Coastwise Capital Group LLC reduced its stake in RTX Co. (NYSE:RTX) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,070 shares of the company’s stock after selling 883 shares during the quarter. Coastwise Capital Group LLC’s holdings in RTX were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC raised its position in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. FMR LLC lifted its stake in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after purchasing an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after purchasing an additional 38,930 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock opened at $129.14 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $171.89 billion, a PE ratio of 36.38, a P/E/G ratio of 1.99 and a beta of 0.81. The business has a 50 day moving average of $118.97 and a 200-day moving average of $119.00. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, sell-side analysts expect that RTX Co. will post 6.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price of $163.07.

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.