RTX Co. (NYSE:RTX) Shares Sold by Encompass More Asset Management

Encompass More Asset Management lessened its stake in RTX Co. (NYSE:RTX) by 64.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,237 shares of the company’s stock after selling 4,076 shares during the period. Encompass More Asset Management’s holdings in RTX were worth $259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings 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 valued at $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 period. Fisher Asset Management LLC boosted 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 in the last quarter. Janus Henderson Group PLC grew its holdings 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 acquiring an additional 702,699 shares during the period. Finally, abrdn plc grew its holdings in RTX by 527.6% during 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 owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RTX. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. UBS Group increased their target price on shares of 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 raised 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. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $158.27.

RTX Trading Down 0.8 %

RTX stock opened at $125.23 on Friday. The stock has a market cap 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 current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $118.38 and a 200 day moving average price of $118.29. RTX Co. has a 52 week low of $88.90 and a 52 week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. Equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

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.