Narwhal Capital Management Has $7.27 Million Stock Holdings in RTX Co. (NYSE:RTX)

Narwhal Capital Management trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,830 shares of the company’s stock after selling 4,130 shares during the quarter. Narwhal Capital Management’s holdings in RTX were worth $7,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in RTX by 545.6% in 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 during the period. International Assets Investment Management LLC grew its position in shares of RTX by 11,235.6% in 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 buying an additional 1,686,007 shares during 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 valued at $2,238,004,000 after buying an additional 852,183 shares during the period. Janus Henderson Group PLC raised its position 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 during the last quarter. Finally, abrdn plc lifted its stake in shares of RTX by 527.6% in the third quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after acquiring an additional 509,261 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Down 0.8 %

Shares of RTX stock opened at $125.23 on Monday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $128.70. The company’s fifty day simple moving average is $118.38 and its two-hundred day simple moving average is $118.54. 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 capitalization of $166.69 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.99 and a beta of 0.81.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Susquehanna decreased their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.