Van ECK Associates Corp Has $226.08 Million Position in RTX Co. (NYSE:RTX)

Van ECK Associates Corp lessened its position in RTX Co. (NYSE:RTX) by 53.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,777,251 shares of the company’s stock after selling 2,051,031 shares during the period. Van ECK Associates Corp’s holdings in RTX were worth $226,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors grew its position in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors grew its position in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its position in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC grew its position 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 buying an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after buying an additional 792,830 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RTX shares. Citigroup upped their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Down 1.9 %

NYSE:RTX traded down $2.24 on Friday, hitting $118.75. The stock had a trading volume of 5,235,060 shares, compared to its average volume of 4,109,141. The business’s fifty day moving average is $122.13 and its 200 day moving average is $112.02. The company has a market cap of $158.06 billion, a PE ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

About RTX

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.