Arthur M. Cohen & Associates LLC Has $4.02 Million Stake in RTX Co. (NYSE:RTX)

Arthur M. Cohen & Associates LLC raised its position in RTX Co. (NYSE:RTX) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 34,710 shares of the company’s stock after purchasing an additional 300 shares during the quarter. RTX accounts for approximately 0.7% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 25th biggest holding. Arthur M. Cohen & Associates LLC’s holdings in RTX were worth $4,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RTX. Acadian Asset Management LLC boosted its position in RTX by 26.4% during the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after purchasing an additional 355 shares during the period. Federated Hermes Inc. raised its holdings in RTX by 36.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company’s stock valued at $965,000 after acquiring an additional 2,552 shares during the period. Edgestream Partners L.P. lifted its position in RTX by 140.5% during the second quarter. Edgestream Partners L.P. now owns 8,022 shares of the company’s stock worth $805,000 after acquiring an additional 4,686 shares during the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of RTX during the second quarter worth approximately $201,000. Finally, Intech Investment Management LLC lifted its holdings in RTX by 49.4% during the 2nd quarter. Intech Investment Management LLC now owns 38,052 shares of the company’s stock worth $3,820,000 after purchasing an additional 12,583 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised 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 research report on Thursday, December 19th. Wells Fargo & Company upped their target price on RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Susquehanna decreased their price target on RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Six investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

RTX stock opened at $121.30 on Friday. The business has a 50 day moving average of $118.10 and a 200-day moving average of $117.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The company has a market capitalization of $161.45 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.84 and a beta of 0.81.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that RTX Co. will post 5.55 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.