Assenagon Asset Management S.A. Grows Stake in RTX Co. (NYSE:RTX)

Assenagon Asset Management S.A. increased its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 545.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,478,784 shares of the company’s stock after acquiring an additional 2,094,834 shares during the quarter. RTX comprises approximately 0.5% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 29th largest holding. Assenagon Asset Management S.A.’s holdings in RTX were worth $286,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter worth $39,000. Western Pacific Wealth Management LP purchased a new stake in RTX in the third quarter valued at $41,000. Kimelman & Baird LLC acquired a new position in RTX in the second quarter valued at $46,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of RTX during the third quarter worth about $50,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE:RTX opened at $119.36 on Wednesday. RTX Co. has a 52 week low of $84.43 and a 52 week high of $128.70. The company has a 50-day moving average price of $118.18 and a 200 day moving average price of $117.14. The company has a market cap of $158.87 billion, a P/E ratio of 34.10, a PEG ratio of 2.08 and a beta of 0.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTXGet Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. Research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RTX. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Susquehanna dropped their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $156.87.

View Our Latest Stock Analysis on RTX

About RTX

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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