Van ECK Associates Corp Has $267.34 Million Stake in RTX Co. (NYSE:RTX)

Van ECK Associates Corp raised its position in shares of RTX Co. (NYSE:RTX) by 30.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,310,221 shares of the company’s stock after acquiring an additional 532,970 shares during the quarter. Van ECK Associates Corp’s holdings in RTX were worth $267,339,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after buying an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC grew its stake in 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 purchasing an additional 1,686,007 shares during the period. Jennison Associates LLC increased its position in shares of RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC grew its position in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after buying an additional 702,699 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RTX shares. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group upped their price target on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

NYSE:RTX opened at $126.82 on Thursday. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $168.94 billion, a P/E ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82. The business’s 50-day moving average price is $120.55 and its two-hundred day moving average price is $120.53.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. RTX’s payout ratio is 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

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.