Van ECK Associates Corp purchased a new stake in shares of RTX Co. (NYSE:RTX – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,957 shares of the company’s stock, valued at approximately $2,052,000.
Several other large investors have also added to or reduced their stakes in RTX. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in RTX by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after purchasing an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of RTX by 9.2% in the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after buying an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of RTX by 1.2% in the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares in the last quarter. AMI Investment Management Inc. lifted its holdings in shares of RTX by 53.1% in the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after buying an additional 12,316 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of RTX by 1.4% in the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $95.00 target price (down previously from $110.00) on shares of RTX in a report on Wednesday, July 26th. Wolfe Research raised shares of RTX from a “peer perform” rating to an “outperform” rating and set a $117.00 price target on the stock in a research note on Wednesday, April 12th. Robert W. Baird decreased their price target on shares of RTX from $115.00 to $100.00 in a research note on Wednesday, July 26th. Bank of America downgraded shares of RTX from a “buy” rating to a “neutral” rating and decreased their price target for the company from $120.00 to $95.00 in a research note on Thursday, July 27th. Finally, Argus downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.33.
RTX Trading Down 2.9 %
NYSE RTX opened at $85.46 on Thursday. The company’s 50-day moving average price is $95.43 and its 200-day moving average price is $97.38. The company has a current ratio of 1.10, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.39 billion, a PE ratio of 22.67, a PEG ratio of 2.24 and a beta of 0.97. RTX Co. has a 12 month low of $80.27 and a 12 month high of $108.84.
RTX (NYSE:RTX – Get Free Report) last issued its earnings results on Tuesday, July 25th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.11. The company had revenue of $18.32 billion for the quarter, compared to analysts’ expectations of $17.68 billion. RTX had a net margin of 7.88% and a return on equity of 9.98%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. Equities research analysts forecast that RTX Co. will post 5 earnings per share for the current year.
RTX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, August 17th. RTX’s payout ratio is 62.60%.
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.
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