RTX Co. (NYSE:RTX) Shares Sold by Gradient Investments LLC

Gradient Investments LLC lowered its position in shares of RTX Co. (NYSE:RTX) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,521 shares of the company’s stock after selling 8,413 shares during the period. Gradient Investments LLC’s holdings in RTX were worth $13,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC raised its stake 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 valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares during the last quarter. Finally, abrdn plc boosted its position in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after purchasing an additional 509,261 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $125.23 on Friday. The stock’s 50-day simple moving average is $118.38 and its 200-day simple moving average is $118.29. The firm has a market capitalization of $166.69 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company increased their target price on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.27.

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.