RTX Co. (NYSE:RTX) Stake Raised by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,443 shares of the company’s stock after acquiring an additional 2,401 shares during the quarter. Verdence Capital Advisors LLC’s holdings in RTX were worth $3,931,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new stake in RTX in the 2nd quarter worth approximately $30,837,000. O Shaughnessy Asset Management LLC raised its holdings in shares of RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in RTX by 36.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $123.55 on Friday. The business has a 50 day simple moving average of $122.08 and a 200 day simple moving average of $112.69. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a market capitalization of $164.45 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RTX shares. Royal Bank of Canada boosted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $177.27.

RTX 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.