USA Financial Formulas Increases Holdings in RTX Co. (NYSE:RTX)

USA Financial Formulas grew its stake in shares of RTX Co. (NYSE:RTX) by 3,925.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,273 shares of the company’s stock after purchasing an additional 5,142 shares during the quarter. USA Financial Formulas’ holdings in RTX were worth $610,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of RTX by 545.6% during 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. Marshall Wace LLP grew its holdings in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC increased its stake in 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 worth $206,095,000 after buying an additional 1,686,007 shares during the period. Fisher Asset Management LLC lifted its holdings in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after buying an additional 792,830 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.3 %

RTX stock opened at $119.07 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $158.48 billion, a P/E ratio of 34.02, a P/E/G ratio of 1.84 and a beta of 0.81. RTX Co. has a 52-week low of $84.43 and a 52-week high of $128.70. The company’s 50 day simple moving average is $118.19 and its 200-day simple moving average is $117.27.

RTX (NYSE:RTX) last released 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Co. will post 5.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RTX shares. Royal Bank of Canada raised RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Susquehanna cut their price target 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. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Citigroup upped 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.87.

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.