Concord Wealth Partners Raises Holdings in RTX Co. (NYSE:RTX)

Concord Wealth Partners increased its position in shares of RTX Co. (NYSE:RTX) by 752.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,451 shares of the company’s stock after buying an additional 5,694 shares during the period. Concord Wealth Partners’ holdings in RTX were worth $747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RTX. Geode Capital Management LLC increased its holdings in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. FMR LLC increased its holdings in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after acquiring an additional 490,109 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after purchasing an additional 140,697 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after purchasing an additional 38,930 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.07.

RTX Trading Up 0.1 %

NYSE:RTX opened at $129.08 on Friday. The stock has a market capitalization of $171.81 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 1.99 and a beta of 0.81. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock has a fifty day moving average price of $119.14 and a two-hundred day moving average price of $119.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts anticipate that RTX Co. will post 6.1 earnings per share for the current fiscal year.

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.