RTX Co. (NYSE:RTX) Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,097 shares of the company’s stock after selling 155 shares during the quarter. RTX makes up approximately 2.4% of ARS Investment Partners LLC’s holdings, making the stock its 14th largest holding. ARS Investment Partners LLC’s holdings in RTX were worth $26,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings 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 worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Marshall Wace LLP boosted its position in shares of RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after acquiring an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC grew its holdings in 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 valued at $206,095,000 after purchasing an additional 1,686,007 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of RTX by 4.8% in 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. Finally, Janus Henderson Group PLC grew its stake in shares of RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after buying an additional 702,699 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RTX shares. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley raised 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. Finally, Susquehanna decreased their price target on RTX from $150.00 to $139.00 and set a “positive” rating for the company in a report on Wednesday, January 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 stock. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $156.87.

RTX Price Performance

RTX opened at $121.30 on Tuesday. The firm has a market cap of $161.45 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company’s 50-day moving average price is $118.03 and its 200 day moving average price is $117.84. RTX Co. has a fifty-two week low of $84.43 and a fifty-two week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current 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.