Chevy Chase Trust Holdings LLC Has $87.85 Million Position in RTX Co. (NYSE:RTX)

Chevy Chase Trust Holdings LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 725,050 shares of the company’s stock after selling 12,586 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of RTX worth $87,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Napa Wealth Management bought a new stake in shares of RTX during the third quarter worth approximately $1,307,000. Manning & Napier Advisors LLC bought a new stake in RTX in the 2nd quarter valued at $30,837,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in RTX by 16.8% in the 3rd 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 period. Kennebec Savings Bank acquired a new position in RTX in the 3rd quarter valued at $953,000. Finally, Robeco Institutional Asset Management B.V. increased its position in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Up 1.2 %

Shares of NYSE RTX opened at $121.83 on Monday. The company has a market cap of $162.16 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.16 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $79.67 and a 12 month high of $128.70. The stock has a 50-day moving average price of $122.34 and a two-hundred day moving average price of $114.61.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s 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. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.07%. RTX’s payout ratio is presently 72.00%.

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.