RTX Co. (NYSE:RTX) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in shares of RTX Co. (NYSE:RTX) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,215 shares of the company’s stock after acquiring an additional 3,169 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in RTX were worth $2,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in RTX during the second quarter valued at approximately $30,837,000. Napa Wealth Management bought a new stake in shares of RTX in the 3rd quarter valued at approximately $1,307,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new position in RTX in the third quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.27.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $119.40 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a 50-day simple moving average of $122.16 and a 200 day simple moving average of $113.68. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The stock has a market capitalization of $158.92 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. On average, sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.