Fifth Third Bancorp Sells 641 Shares of RTX Co. (NYSE:RTX)

Fifth Third Bancorp lessened its position in shares of RTX Co. (NYSE:RTX) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,970 shares of the company’s stock after selling 641 shares during the period. Fifth Third Bancorp’s holdings in RTX were worth $60,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Assenagon Asset Management S.A. increased its holdings in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of 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. Janus Henderson Group PLC boosted its stake in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares in the last quarter. Finally, abrdn plc increased its stake 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 in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Barclays boosted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Susquehanna dropped their price objective on shares of RTX from $150.00 to $139.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.27.

RTX Stock Performance

NYSE:RTX opened at $125.23 on Friday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a fifty day simple moving average of $118.38 and a two-hundred day simple moving average of $118.29. The company has a market capitalization of $166.69 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.99 and a beta of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. On average, analysts expect that RTX Co. will post 5.56 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.