RTX Co. (NYSE:RTX) Position Lessened by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its position in RTX Co. (NYSE:RTX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,275 shares of the company’s stock after selling 390 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in RTX were worth $10,447,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RTX. Assenagon Asset Management S.A. grew its stake in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC grew its position in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 4.8% during the 3rd 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 during the last quarter. Janus Henderson Group PLC raised its holdings in shares of RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of RTX by 527.6% in the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after purchasing an additional 509,261 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna lowered their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research note on Tuesday. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Trading Down 1.0 %

Shares of RTX opened at $124.49 on Thursday. The stock’s 50-day moving average price is $118.10 and its 200 day moving average price is $118.06. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 12-month low of $87.96 and a 12-month high of $128.70. The firm has a market capitalization of $165.69 billion, a price-to-earnings ratio of 35.57, a P/E/G ratio of 2.01 and a beta of 0.81.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company posted $1.25 earnings per share. RTX’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict that RTX Co. will post 5.56 earnings per share for the current 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.