International Assets Investment Management LLC Sells 1,687,948 Shares of RTX Co. (NYSE:RTX)

International Assets Investment Management LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 99.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,065 shares of the company’s stock after selling 1,687,948 shares during the quarter. International Assets Investment Management LLC’s holdings in RTX were worth $1,516,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Elgethun Capital Management raised its position in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the period. Avestar Capital LLC raised its holdings in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC grew its holdings in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the period. Finally, Canal Capital Management LLC increased its position in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after buying an additional 87 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 1.1 %

RTX stock opened at $116.02 on Thursday. The company’s 50 day moving average is $118.36 and its 200 day moving average is $116.71. The stock has a market cap of $154.42 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70.

RTX (NYSE:RTX) last issued 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 for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RTX. Susquehanna dropped their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.