Rakuten Investment Management Inc. lifted its stake in shares of RTX Corporation (NYSE:RTX – Free Report) by 67.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,284 shares of the company’s stock after purchasing an additional 70,713 shares during the period. Rakuten Investment Management Inc.’s holdings in RTX were worth $32,510,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in RTX. Vanguard Group Inc. lifted its holdings in RTX by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock valued at $22,922,464,000 after acquiring an additional 2,210,950 shares during the last quarter. State Street Corp lifted its holdings in RTX by 0.7% in the fourth quarter. State Street Corp now owns 91,884,588 shares of the company’s stock valued at $16,851,633,000 after acquiring an additional 630,558 shares during the last quarter. Capital Research Global Investors lifted its holdings in RTX by 1.1% in the third quarter. Capital Research Global Investors now owns 76,197,762 shares of the company’s stock valued at $12,750,087,000 after acquiring an additional 799,155 shares during the last quarter. Morgan Stanley lifted its holdings in RTX by 0.4% in the fourth quarter. Morgan Stanley now owns 29,783,584 shares of the company’s stock valued at $5,462,310,000 after acquiring an additional 105,069 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in RTX by 3.0% in the fourth 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 last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.
RTX Stock Down 0.0%
Shares of NYSE RTX opened at $183.46 on Tuesday. The firm has a market cap of $247.06 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.60 and a beta of 0.31. 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 Corporation has a 52-week low of $140.47 and a 52-week high of $214.50. The business’s 50 day moving average is $182.75 and its two-hundred day moving average is $189.18.
RTX Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd were given a dividend of $0.73 per share. This is an increase from RTX’s previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 22nd. RTX’s dividend payout ratio is currently 54.78%.
Analyst Upgrades and Downgrades
RTX has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on RTX in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 price objective on the stock. Erste Group Bank cut RTX from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Morgan Stanley cut their target price on RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 target price on shares of RTX in a research report on Thursday, March 5th. Finally, Dbs Bank raised RTX from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.38.
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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