RTX Co. (NYSE:RTX) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners raised its holdings in RTX Co. (NYSE:RTX) by 752.2% in the 4th quarter, HoldingsChannel reports. The fund owned 6,451 shares of the company’s stock after acquiring an additional 5,694 shares during the period. Concord Wealth Partners’ holdings in RTX were worth $747,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 during the last quarter. Fisher Asset Management LLC grew its holdings in 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 purchasing an additional 852,183 shares during the period. Janus Henderson Group PLC increased its position in 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 purchasing an additional 702,699 shares during the last quarter. Finally, abrdn plc grew its stake in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after buying an additional 509,261 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $129.08 on Friday. The stock has a market capitalization of $171.81 billion, a P/E ratio of 36.36, a P/E/G ratio of 1.99 and a beta of 0.81. The firm’s 50-day moving average price is $119.14 and its two-hundred day moving average price is $119.20. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts forecast that RTX Co. will post 6.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

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.