International Assets Investment Management LLC Sells 1,687,948 Shares of RTX Co. (NYSE:RTX)

International Assets Investment Management LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 99.2% in the fourth quarter, HoldingsChannel reports. The fund owned 13,065 shares of the company’s stock after selling 1,687,948 shares during the period. International Assets Investment Management LLC’s holdings in RTX were worth $1,516,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Hsbc Holdings PLC grew its position in RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares during the last quarter. Janus Henderson Group PLC increased its stake in RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the period. Finally, abrdn plc lifted its position in RTX by 527.6% in the third quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after purchasing an additional 509,261 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on RTX shares. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays boosted 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. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $140.00 in a report on Thursday, December 19th. Finally, UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.87.

RTX Stock Performance

Shares of RTX stock opened at $116.02 on Thursday. 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’s fifty day moving average price is $118.36 and its 200-day moving average price is $116.71. The stock has a market cap of $154.42 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. RTX Co. has a 12 month low of $84.43 and a 12 month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data 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 business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX 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.