Meeder Asset Management Inc. raised its stake in shares of RTX Corporation (NYSE:RTX – Free Report) by 668.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,111 shares of the company’s stock after purchasing an additional 3,576 shares during the period. Meeder Asset Management Inc.’s holdings in RTX were worth $793,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of RTX by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock worth $22,922,464,000 after purchasing an additional 2,210,950 shares during the period. State Street Corp grew its stake in shares of RTX by 0.7% during the 4th quarter. State Street Corp now owns 91,884,588 shares of the company’s stock worth $16,851,633,000 after acquiring an additional 630,558 shares during the period. Morgan Stanley increased its holdings in RTX by 0.4% in the 4th quarter. Morgan Stanley now owns 29,783,584 shares of the company’s stock worth $5,462,310,000 after acquiring an additional 105,069 shares during the last quarter. Fisher Asset Management LLC raised its stake in RTX by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 21,800,188 shares of the company’s stock valued at $3,998,155,000 after acquiring an additional 625,994 shares during the period. Finally, Norges Bank bought a new stake in RTX in the 4th quarter valued at about $3,167,626,000. Institutional investors own 86.50% of the company’s stock.
RTX Trading Up 0.6%
Shares of RTX stock opened at $194.64 on Tuesday. The business has a 50-day moving average price of $184.95 and a two-hundred day moving average price of $191.74. The firm has a market cap of $262.12 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 2.65 and a beta of 0.30. RTX Corporation has a 12-month low of $143.56 and a 12-month high of $214.50. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.48.
RTX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.92 annualized dividend and a yield of 1.5%. RTX’s payout ratio is currently 54.78%.
RTX News Summary
Here are the key news stories impacting RTX this week:
- Positive Sentiment: Pratt & Whitney won a nine-year, $1 billion sustainment contract to overhaul more than 750 PT6A-68 engines for the U.S. JPATS T-6 trainer fleet, adding to RTX’s long-term defense revenue visibility. Article Title
- Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines to power up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement, boosting the outlook for RTX’s commercial engines and services backlog. Article Title
- Positive Sentiment: Jackson Square Aviation also chose Pratt & Whitney GTF engines for an undisclosed number of Airbus A320neo jets, reinforcing demand for RTX’s geared-turbofan platform at the Farnborough Airshow. Article Title
- Positive Sentiment: Pratt & Whitney completed successful testing of its 3D-printed TJ150 engine, highlighting manufacturing innovation and potential efficiency gains. Article Title
- Neutral Sentiment: Analysts are reviewing RTX’s Q2 metric projections ahead of earnings, which keeps attention on whether the company can match or exceed expectations. Article Title
- Neutral Sentiment: RTX was mentioned as one of several drone-tech names to watch as adoption rises, but the piece is more sector-focused than a direct company-specific catalyst. Article Title
- Positive Sentiment: RTX also picked up additional attention from Boeing/Airbus Farnborough deal activity, which underscores a healthy commercial aerospace backdrop for its engine business. Article Title
Wall Street Analysts Forecast Growth
RTX has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of RTX in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $200.00 target price for the company. UBS Group dropped their price target on shares of RTX from $209.00 to $199.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Citigroup reaffirmed a “buy” rating on shares of RTX in a report on Wednesday, June 17th. Melius Research upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings downgraded RTX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.38.
View Our Latest Stock Analysis on RTX
RTX Company Profile
RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.
RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.
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