Patriot Financial Group Insurance Agency LLC Has $2.33 Million Holdings in RTX Co. (NYSE:RTX)

Patriot Financial Group Insurance Agency LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,135 shares of the company’s stock after selling 207 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in RTX were worth $2,330,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RTX. Assenagon Asset Management S.A. boosted its position in 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 period. International Assets Investment Management LLC grew its stake in RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after buying an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC raised its holdings in 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 acquiring an additional 852,183 shares during the period. Janus Henderson Group PLC lifted its position in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of RTX by 527.6% during the third quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after acquiring an additional 509,261 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 5.6 %

Shares of NYSE RTX opened at $132.02 on Tuesday. The company has a 50 day simple moving average of $118.49 and a 200 day simple moving average of $118.70. 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 $88.90 and a 1 year high of $131.60. The firm has a market cap of $175.71 billion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 11.96% and a net margin of 5.97%. On average, research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. UBS Group raised their price target 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. Morgan Stanley boosted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Susquehanna dropped their price target on shares of RTX from $150.00 to $139.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

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.