J.W. Cole Advisors Inc. reduced its position in RTX Corporation (NYSE:RTX – Free Report) by 8.3% in the 4th quarter, Holdings Channel reports. The fund owned 74,490 shares of the company’s stock after selling 6,770 shares during the period. J.W. Cole Advisors Inc.’s holdings in RTX were worth $13,231,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of RTX in the 4th quarter valued at $3,167,626,000. Vanguard Group Inc. boosted its holdings in shares of RTX by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock valued at $22,922,464,000 after purchasing an additional 2,210,950 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of RTX by 27.5% in the 3rd quarter. California Public Employees Retirement System now owns 4,796,746 shares of the company’s stock valued at $802,640,000 after purchasing an additional 1,034,456 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of RTX in the 3rd quarter valued at $150,078,000. Finally, Legal & General Group Plc boosted its holdings in shares of RTX by 13.4% in the 3rd quarter. Legal & General Group Plc now owns 7,167,501 shares of the company’s stock valued at $1,199,338,000 after purchasing an additional 846,656 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
RTX Stock Performance
NYSE:RTX opened at $179.61 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $241.87 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.45 and a beta of 0.31. The firm’s fifty day simple moving average is $184.32 and its 200 day simple moving average is $188.77. RTX Corporation has a twelve month low of $135.43 and a twelve month high of $214.50.
RTX Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 22nd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 22nd. This is a positive change from RTX’s previous quarterly dividend of $0.68. RTX’s dividend payout ratio (DPR) is presently 54.78%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on RTX shares. Morgan Stanley decreased their price target on shares of RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. UBS Group decreased their price target on shares of RTX from $209.00 to $199.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Erste Group Bank lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of RTX in a report on Friday, April 10th. Finally, DZ Bank lowered shares of RTX from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.38.
Check Out Our Latest Research Report on RTX
Key Stories Impacting RTX
Here are the key news stories impacting RTX this week:
- Positive Sentiment: Jefferies upgraded RTX to Buy from Hold and raised its price target to $220 from $210, citing improving margins, strength in commercial aerospace engine aftermarket demand, and continued defense-business momentum. Article Title
- Positive Sentiment: RTX’s Raytheon unit won a $515 million U.S. Navy contract for SPY-6 radar systems, expanding deployment across the fleet and allied governments and underscoring demand for its defense electronics and sensors business. Article Title
- Positive Sentiment: RTX is also expanding landing gear production through a new Poland facility as Collins Aerospace boosts capacity to meet rising aircraft demand, supporting its aerospace growth story. Article Title
- Neutral Sentiment: Additional coverage highlighted RTX as a strong momentum stock and reiterated the SPY-6 contract, but these pieces mainly echoed already positive catalysts rather than adding new information. Article Title
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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