Hennessy Advisors Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Hennessy Advisors Inc. lessened its holdings in RTX Co. (NYSE:RTX - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,900 shares of the company's stock after selling 2,100 shares during the quarter. Hennessy Advisors Inc.'s holdings in RTX were worth $6,700,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company's stock valued at $3,290,622,000 after buying an additional 508,344 shares in the last quarter. Fisher Asset Management LLC grew its position in 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 last quarter. Legal & General Group Plc increased its holdings in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company's stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 purchasing an additional 408,551 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company's stock valued at $739,421,000 after purchasing an additional 490,109 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of RTX from $140.00 to $151.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Susquehanna cut their price target on shares of RTX from $150.00 to $139.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.87.

RTX Stock Up 0.7 %

NYSE RTX traded up $0.84 on Friday, hitting $121.30. 4,182,063 shares of the company were exchanged, compared to its average volume of 3,467,505. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $161.45 billion, a PE ratio of 34.66, a PEG ratio of 1.84 and a beta of 0.81. The stock has a fifty day moving average of $118.10 and a 200-day moving average of $117.45. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm's revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.55 earnings per share for the current 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.