Hennessy Advisors Inc. Sells 2,100 Shares of RTX Co. (NYSE:RTX)

Hennessy Advisors Inc. trimmed its stake in shares of RTX Co. (NYSE:RTX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,900 shares of the company’s stock after selling 2,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in RTX were worth $6,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays upped their price objective 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. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna cut their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, Citigroup upped their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.87.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $121.30 on Friday. 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 stock has a fifty day simple moving average of $118.10 and a two-hundred day simple moving average of $117.45. The firm has a market capitalization of $161.45 billion, a PE ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.55 EPS for the current fiscal 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.