Hennion & Walsh Asset Management Inc. Lowers Stock Position in RTX Co. (NYSE:RTX)

Hennion & Walsh Asset Management Inc. lessened its holdings in RTX Co. (NYSE:RTX) by 19.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,812 shares of the company’s stock after selling 4,897 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in RTX were worth $2,293,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RTX. Assenagon Asset Management S.A. lifted its position in shares of 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 purchasing an additional 2,094,834 shares during the period. Marshall Wace LLP lifted its position in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the period. International Assets Investment Management LLC lifted 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 worth $206,095,000 after purchasing an additional 1,686,007 shares during the period. Fisher Asset Management LLC lifted its position in RTX by 4.8% during 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 acquiring an additional 852,183 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after acquiring an additional 702,699 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Susquehanna lowered their target price on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average price target of $156.87.

RTX Trading Up 0.7 %

NYSE RTX opened at $121.30 on Friday. The company has a market capitalization of $161.45 billion, a PE ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81. The company has a fifty day moving average of $118.10 and a 200 day moving average of $117.45. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company 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 firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Research analysts forecast that RTX Co. will post 5.55 earnings per share for the current year.

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.