Campbell Newman Asset Management Inc. Has $25.71 Million Stock Position in RTX Co. (NYSE:RTX)

Campbell Newman Asset Management Inc. lowered its position in shares of RTX Co. (NYSE:RTX - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 222,167 shares of the company's stock after selling 15,844 shares during the period. RTX accounts for 2.1% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 20th biggest holding. Campbell Newman Asset Management Inc.'s holdings in RTX were worth $25,709,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RTX. Acadian Asset Management LLC grew its stake in shares of RTX by 26.4% in the second quarter. Acadian Asset Management LLC now owns 1,700 shares of the company's stock worth $170,000 after purchasing an additional 355 shares in the last quarter. Federated Hermes Inc. grew its position in RTX by 36.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,613 shares of the company's stock valued at $965,000 after buying an additional 2,552 shares in the last quarter. One Capital Management LLC raised its holdings in RTX by 115.7% during the second quarter. One Capital Management LLC now owns 6,768 shares of the company's stock worth $679,000 after purchasing an additional 3,631 shares in the last quarter. Edgestream Partners L.P. lifted its position in RTX by 140.5% in the second quarter. Edgestream Partners L.P. now owns 8,022 shares of the company's stock worth $805,000 after purchasing an additional 4,686 shares during the period. Finally, Virtu Financial LLC bought a new position in RTX during the 2nd quarter valued at $5,623,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RTX. Susquehanna cut their price objective on RTX from $150.00 to $139.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Barclays upped their price target 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. Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.87.

RTX Stock Down 0.3 %

Shares of RTX traded down $0.40 during mid-day trading on Wednesday, reaching $119.07. The company's stock had a trading volume of 4,279,618 shares, compared to its average volume of 3,955,265. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $158.48 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The business has a fifty day moving average of $118.19 and a 200 day moving average of $117.27.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 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 business had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same period last year, the company posted $1.25 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

About RTX

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.