RTX Co. (NYSE:RTX) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its stake in RTX Co. (NYSE:RTX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 550,355 shares of the company’s stock after selling 3,594 shares during the quarter. RTX accounts for about 0.7% of Gateway Investment Advisers LLC’s 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 filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 valued at $3,290,622,000 after acquiring an additional 508,344 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc raised its stake in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Finally, FMR LLC boosted its stake in RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Susquehanna lowered their price objective on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Trading Up 0.4 %

Shares of NYSE:RTX traded up $0.53 during midday trading on Thursday, reaching $119.62. 198,291 shares of the company’s stock were exchanged, compared to its average volume of 3,565,912. The firm’s 50 day simple moving average is $118.14 and its two-hundred day simple moving average is $117.28. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market cap of $159.22 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. As a group, sell-side analysts forecast 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.