Assenagon Asset Management S.A. Purchases 2,094,834 Shares of RTX Co. (NYSE:RTX)

Assenagon Asset Management S.A. lifted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 545.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,478,784 shares of the company's stock after buying an additional 2,094,834 shares during the quarter. RTX comprises about 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 filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in RTX during the third quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the third quarter valued at approximately $41,000. Modus Advisors LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. ORG Wealth Partners LLC acquired a new stake in RTX during the third quarter worth approximately $50,000. Finally, Kimelman & Baird LLC bought a new position in RTX during the 2nd quarter worth $46,000. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. Wells Fargo & Company increased their target price on RTX from $140.00 to $151.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. UBS Group upped their price target on shares of RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of RTX from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $130.00 to $140.00 in a research report on Thursday, December 19th. Finally, TD Cowen raised RTX to a "strong-buy" rating in a report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.87.

RTX Trading Down 0.3 %

Shares of RTX stock traded down $0.40 on Wednesday, hitting $119.07. The company had a trading volume of 4,279,636 shares, compared to its average volume of 3,956,879. The stock's 50-day moving average is $118.19 and its two-hundred day moving average is $117.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $158.48 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.08 and a beta of 0.81. RTX Co. has a twelve month low of $84.43 and a twelve month high of $128.70.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $19.84 billion. During the same quarter last year, the business earned $1.25 EPS. The company's revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.56 earnings per share 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.