Ferguson Wellman Capital Management Inc. Has $28.67 Million Stock Position in RTX Co. (NYSE:RTX)

Ferguson Wellman Capital Management Inc. increased its holdings in RTX Co. (NYSE:RTX) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,672 shares of the company’s stock after acquiring an additional 10,086 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in RTX were worth $28,670,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of RTX during the fourth quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC boosted its holdings in RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after acquiring an additional 13,598,794 shares during the last quarter. Sanders Capital LLC bought a new stake in shares of RTX in the 1st quarter worth $769,926,000. Morgan Stanley raised its holdings in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of RTX by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.30 during trading on Friday, hitting $75.80. 16,049,827 shares of the company were exchanged, compared to its average volume of 7,307,043. The company has a market cap of $110.33 billion, a PE ratio of 20.11, a P/E/G ratio of 1.92 and a beta of 0.97. RTX Co. has a 52-week low of $73.62 and a 52-week high of $108.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.81. The stock has a 50 day moving average of $87.19 and a 200 day moving average of $94.05.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, July 25th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.18 by $0.11. RTX had a return on equity of 9.98% and a net margin of 7.88%. The business had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $17.68 billion. During the same quarter last year, the company earned $1.16 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts predict that RTX Co. will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

RTX has been the subject of several analyst reports. Susquehanna decreased their price objective on shares of RTX from $117.00 to $110.00 in a research note on Wednesday, July 26th. Barclays downgraded RTX from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $100.00 to $75.00 in a research report on Tuesday, September 12th. Melius downgraded RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Monday, September 11th. Royal Bank of Canada cut RTX from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $105.00 to $82.00 in a research note on Tuesday, September 12th. Finally, Bank of America lowered shares of RTX from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $95.00 to $75.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.88.

RTX Profile

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.