Brighton Jones LLC Has $1.97 Million Stock Position in RTX Co. (NYSE:RTX)

Brighton Jones LLC increased its stake in RTX Co. (NYSE:RTX) by 24.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,018 shares of the company’s stock after purchasing an additional 3,332 shares during the quarter. Brighton Jones LLC’s holdings in RTX were worth $1,969,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. 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. Susquehanna dropped 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. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.27.

RTX Trading Down 0.8 %

RTX opened at $125.23 on Friday. The stock has a market capitalization of $166.69 billion, a price-to-earnings ratio of 35.78, a P/E/G ratio of 1.99 and a beta of 0.81. 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 Co. has a twelve month low of $88.90 and a twelve month high of $128.70. The company has a 50-day simple moving average of $118.38 and a 200 day simple moving average of $118.29.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

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.