Webster Bank N. A. Reduces Holdings in RTX Co. (NYSE:RTX)

Webster Bank N. A. lessened its position in RTX Co. (NYSE:RTX) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 46,250 shares of the company’s stock after selling 254 shares during the period. Webster Bank N. A.’s holdings in RTX were worth $4,531,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Jackson Hole Capital Partners LLC grew its position in shares of RTX by 0.3% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 39,562 shares of the company’s stock valued at $3,993,000 after purchasing an additional 100 shares during the last quarter. Tyler Stone Wealth Management raised its stake in RTX by 5.0% during the fourth quarter. Tyler Stone Wealth Management now owns 2,097 shares of the company’s stock worth $212,000 after purchasing an additional 100 shares during the period. Argent Advisors Inc. raised its stake in RTX by 2.8% during the first quarter. Argent Advisors Inc. now owns 3,720 shares of the company’s stock worth $364,000 after purchasing an additional 100 shares during the period. Legal Advantage Investments Inc. raised its stake in shares of RTX by 0.5% in the 1st quarter. Legal Advantage Investments Inc. now owns 18,734 shares of the company’s stock valued at $1,835,000 after acquiring an additional 101 shares during the period. Finally, Element Wealth LLC raised its stake in shares of RTX by 3.7% in the 1st quarter. Element Wealth LLC now owns 2,893 shares of the company’s stock valued at $283,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 79.06% of the company’s stock.

RTX Stock Down 0.9 %

NYSE:RTX traded down $0.66 during trading hours on Tuesday, hitting $74.52. 6,269,515 shares of the company traded hands, compared to its average volume of 5,496,768. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $86.75 and its 200-day simple moving average is $93.86. RTX Co. has a one year low of $73.62 and a one year high of $108.84. The company has a market cap of $108.47 billion, a PE ratio of 19.94, a PEG ratio of 1.87 and a beta of 0.97.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.11. RTX had a return on equity of 9.98% and a net margin of 7.88%. The company had revenue of $18.32 billion during the quarter, compared to analyst estimates of $17.68 billion. During the same quarter last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts predict that RTX Co. will post 4.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RTX shares. Citigroup decreased their price objective on shares of RTX from $113.50 to $95.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. Wells Fargo & Company dropped their price target on shares of RTX from $100.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Monday. Royal Bank of Canada downgraded shares of RTX from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $82.00 in a report on Tuesday, September 12th. Melius downgraded shares of RTX from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Monday, September 11th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.06.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.