Olstein Capital Management L.P. lessened its holdings in shares of RTX Co. (NYSE:RTX – Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,280 shares of the company’s stock after selling 6,720 shares during the quarter. Olstein Capital Management L.P.’s holdings in RTX were worth $5,934,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of RTX by 11,235.6% during the 3rd 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 in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring 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 third 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 in the last quarter. Finally, abrdn plc boosted its position in RTX by 527.6% during the third 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. Institutional investors and hedge funds own 86.50% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Susquehanna dropped their target price on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.
RTX Price Performance
NYSE RTX opened at $125.23 on Friday. The stock has a 50-day simple moving average of $118.38 and a 200 day simple moving average of $118.41. RTX Co. has a twelve month low of $88.90 and a twelve month high of $128.70. The stock has a market capitalization of $166.69 billion, a PE ratio of 35.78, a P/E/G ratio of 1.99 and a beta of 0.81. 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 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.
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