Concord Asset Management LLC VA Takes $698,000 Position in RTX Co. (NYSE:RTX)

Concord Asset Management LLC VA bought a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,035 shares of the company’s stock, valued at approximately $698,000.

Several other institutional investors also recently bought and sold shares of RTX. Assenagon Asset Management S.A. grew 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 lifted its position 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 buying an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC grew its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Janus Henderson Group PLC increased its holdings in RTX by 256.6% in the 3rd 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 raised its position 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 currently owned by hedge funds and other institutional investors.

RTX Stock Up 0.1 %

Shares of NYSE:RTX opened at $129.08 on Friday. The firm’s 50-day moving average is $119.14 and its two-hundred day moving average is $119.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The firm has a market capitalization of $171.81 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday. Barclays boosted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.