Exchange Traded Concepts LLC Has $10.47 Million Stake in RTX Co. (NYSE:RTX)

Exchange Traded Concepts LLC grew its holdings in RTX Co. (NYSE:RTX) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,506 shares of the company’s stock after purchasing an additional 6,139 shares during the quarter. Exchange Traded Concepts LLC’s holdings in RTX were worth $10,473,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RTX. Assenagon Asset Management S.A. increased its position 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 worth $286,845,000 after buying an additional 2,094,834 shares during the period. International Assets Investment Management LLC increased its position in RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the period. Fisher Asset Management LLC raised its stake in RTX by 4.8% during 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 purchasing an additional 852,183 shares during the last quarter. Janus Henderson Group PLC boosted 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 valued at $118,309,000 after purchasing an additional 702,699 shares during the period. Finally, abrdn plc increased its holdings in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after purchasing an additional 509,261 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Susquehanna reduced their target price on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.27.

RTX Stock Performance

NYSE RTX opened at $125.98 on Friday. The firm has a market cap of $167.69 billion, a price-to-earnings ratio of 35.96, a PEG 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. RTX Co. has a 1-year low of $88.90 and a 1-year high of $128.70. The company has a 50 day moving average of $118.25 and a 200-day moving average of $118.12.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during 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 business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. On average, equities analysts forecast 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.