Erste Asset Management GmbH lifted its stake in RTX Corporation (NYSE:RTX – Free Report) by 333.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,689 shares of the company’s stock after acquiring an additional 25,155 shares during the quarter. Erste Asset Management GmbH’s holdings in RTX were worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. BNP Paribas purchased a new stake in shares of RTX in the third quarter worth about $25,000. Navalign LLC purchased a new stake in shares of RTX in the fourth quarter worth about $25,000. Core Wealth Advisors LLC purchased a new stake in shares of RTX in the fourth quarter worth about $31,000. Wexford Capital LP purchased a new stake in shares of RTX in the third quarter worth about $33,000. Finally, Dogwood Wealth Management LLC boosted its position in RTX by 57.3% during the third quarter. Dogwood Wealth Management LLC now owns 206 shares of the company’s stock worth $34,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.
RTX Stock Performance
NYSE RTX opened at $181.54 on Wednesday. The company has a market cap of $244.48 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.53 and a beta of 0.31. The stock’s 50 day simple moving average is $183.59 and its 200-day simple moving average is $188.89. RTX Corporation has a 1-year low of $135.43 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78.
RTX Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.6%. This is a boost from RTX’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, May 22nd. RTX’s dividend payout ratio (DPR) is 54.78%.
Analyst Ratings Changes
A number of equities analysts have issued reports on RTX shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $240.00 price target on shares of RTX in a research report on Thursday, March 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of RTX in a research report on Friday, April 10th. Jefferies Financial Group upgraded RTX from a “hold” rating to a “buy” rating and increased their price target for the stock from $210.00 to $220.00 in a research report on Thursday, June 4th. Wall Street Zen downgraded RTX from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Wells Fargo & Company started coverage on RTX in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $200.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.38.
Check Out Our Latest Research Report on RTX
RTX News Summary
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, citing improving profit margins and growth prospects. Jefferies Upgrades RTX Corporation (RTX) To Buy From Hold
- Positive Sentiment: RTX’s Raytheon unit is investing $100 million to expand missile-defense production and radar-testing capacity in Rhode Island, a sign of strong demand for LTAMDS and Patriot components. RTX invests $100 million to accelerate radar testing and interceptor production in Rhode Island
- Positive Sentiment: Collins Aerospace, an RTX business, expanded its Malaysia MRO facility with a $63 million investment, quadrupling footprint to meet growing commercial aviation maintenance demand. RTX’s Collins Aerospace quadruples MRO footprint in Malaysia
- Positive Sentiment: RTX also won a roughly $1.02 billion air-defense contract for NASAMS fire units, adding long-term revenue visibility for the defense segment. RTX Wins A Billion-Dollar Air Defense Contract With Long-Term Visibility
- Neutral Sentiment: Recent headlines about U.S. strikes against Iran may keep defense stocks like RTX in focus, but the direct impact on RTX’s fundamentals is not yet clear. U.S. Launches Retaliatory Strikes Against Iran — Defense Stocks, ETFs On Watch
- Neutral Sentiment: RTX shares also recently slipped on a broader market basis, even as the company’s defense backlog and expansion plans remained intact. RTX (RTX) Stock Declines While Market Improves: Some Information for Investors
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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