Empirical Asset Management LLC Takes Position in RTX Co. (NYSE:RTX)

Empirical Asset Management LLC bought a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 72,478 shares of the company’s stock, valued at approximately $8,387,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of RTX by 545.6% in 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 raised its position in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in RTX by 11,235.6% during the 3rd 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 during the period. Fisher Asset Management LLC grew its position 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 buying an additional 852,183 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of RTX by 256.6% in the third 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 institutional investors and hedge funds.

RTX Stock Up 1.1 %

Shares of NYSE:RTX opened at $120.38 on Friday. 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 $84.43 and a 52-week high of $128.70. The business’s 50 day simple moving average is $118.14 and its two-hundred day simple moving average is $117.30. The firm has a market cap of $160.22 billion, a P/E ratio of 34.39, a PEG ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, research analysts forecast that RTX Co. will post 5.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RTX shares. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

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.