Signature Wealth Management Partners LLC Trims Position in RTX Co. (NYSE:RTX)

Signature Wealth Management Partners LLC trimmed its position in RTX Co. (NYSE:RTX) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,222 shares of the company’s stock after selling 599 shares during the period. RTX comprises approximately 0.8% of Signature Wealth Management Partners LLC’s holdings, making the stock its 25th biggest holding. Signature Wealth Management Partners LLC’s holdings in RTX were worth $1,183,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of RTX by 11,235.6% in the third 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 in the last quarter. Fisher Asset Management LLC boosted its stake 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 buying an additional 852,183 shares during the period. Janus Henderson Group PLC increased its stake 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 during the last quarter. Finally, abrdn plc increased its stake in RTX by 527.6% in the 3rd 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 last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 2.5 %

Shares of RTX stock opened at $128.21 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The company’s 50 day moving average price is $118.67 and its 200-day moving average price is $118.89. The stock has a market capitalization of $170.65 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly 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 5.97% and a return on equity of 11.96%. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $140.00 in a report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna dropped their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $158.27.

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.