Campbell Newman Asset Management Inc. Has $25.71 Million Position in RTX Co. (NYSE:RTX)

Campbell Newman Asset Management Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,167 shares of the company’s stock after selling 15,844 shares during the period. RTX accounts for 2.1% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 20th largest holding. Campbell Newman Asset Management Inc.’s holdings in RTX were worth $25,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter worth about $41,000. Kimelman & Baird LLC acquired a new position in shares of RTX during the 2nd quarter worth about $46,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX in the 3rd quarter valued at approximately $50,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. 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 report on Wednesday, January 8th. Citigroup increased 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. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Six equities 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Price Performance

RTX stock traded up $0.55 during trading hours on Wednesday, hitting $120.02. 253,966 shares of the stock were exchanged, compared to its average volume of 3,486,635. The stock has a market capitalization of $159.75 billion, a P/E ratio of 34.29, a P/E/G ratio of 2.08 and a beta of 0.81. The business’s 50-day moving average is $118.18 and its two-hundred day moving average is $117.14. 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 12 month low of $84.43 and a 12 month high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts expect that RTX Co. will post 5.56 EPS 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.