abrdn plc Cuts Stake in RTX Co. (NYSE:RTX)

abrdn plc reduced its stake in RTX Co. (NYSE:RTXFree Report) by 4.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 344,002 shares of the company’s stock after selling 16,630 shares during the quarter. abrdn plc’s holdings in RTX were worth $24,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. Norges Bank purchased a new position in shares of RTX in the 4th quarter worth about $1,580,608,000. Moneta Group Investment Advisors LLC raised its stake in RTX by 87,932.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the period. Morgan Stanley raised its stake in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after acquiring an additional 3,104,282 shares during the period. Capital World Investors raised its stake in RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after acquiring an additional 2,256,475 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in RTX by 64.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,818,247 shares of the company’s stock valued at $373,922,000 after acquiring an additional 1,498,494 shares during the period. 79.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RTX shares. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft cut RTX from a “hold” rating to a “sell” rating and lowered their price objective for the company from $79.00 to $68.00 in a research note on Friday, October 27th. Morgan Stanley upped their price target on RTX from $83.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 25th. DZ Bank cut RTX from a “hold” rating to a “sell” rating and decreased their price target for the company from $79.00 to $68.00 in a research report on Friday, October 27th. Finally, Royal Bank of Canada upped their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.71.

Read Our Latest Research Report on RTX

RTX Stock Up 0.6 %

Shares of RTX opened at $90.60 on Wednesday. The firm has a market cap of $130.27 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.66 and a beta of 0.91. The stock has a 50 day simple moving average of $84.06 and a two-hundred day simple moving average of $82.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91.

RTX (NYSE:RTXGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, analysts forecast that RTX Co. will post 5.38 earnings per share for the current fiscal year.

RTX Profile

(Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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