Assenagon Asset Management S.A. Increases Position in RTX Co. (NYSE:RTX)

Assenagon Asset Management S.A. grew its holdings in RTX Co. (NYSE:RTX) by 545.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,478,784 shares of the company’s stock after purchasing an additional 2,094,834 shares during the quarter. RTX comprises approximately 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 29th largest holding. Assenagon Asset Management S.A. owned approximately 0.19% of RTX worth $286,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC raised its stake in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the period. Fisher Asset Management LLC increased its holdings 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 buying an additional 852,183 shares during the last quarter. Legal & General Group Plc raised its position in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after buying an additional 362,340 shares during the period. Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares during the last quarter. Finally, FMR LLC grew its position in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $119.36 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $158.87 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The stock’s 50-day moving average is $118.18 and its two-hundred day moving average is $117.14. RTX Co. has a 1-year low of $84.43 and a 1-year high of $128.70.

RTX (NYSE:RTX) last released its 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on RTX. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised shares of 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. Wells Fargo & Company boosted their price target on shares of RTX from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Citigroup upped their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target 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.