Fisher Asset Management LLC Acquires 852,183 Shares of RTX Co. (NYSE:RTX)

Fisher Asset Management LLC raised its stake in RTX Co. (NYSE:RTX) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,471,471 shares of the company’s stock after buying an additional 852,183 shares during the quarter. Fisher Asset Management LLC’s holdings in RTX were worth $2,238,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. bought a new stake in RTX in the 2nd quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD bought a new stake in RTX in the 2nd quarter valued at about $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.2 %

Shares of NYSE RTX opened at $120.77 on Monday. The stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a PEG ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a one year low of $79.13 and a one year high of $128.70. The firm’s 50 day simple moving average is $122.17 and its two-hundred day simple moving average is $114.17.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s dividend payout ratio is 72.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RTX. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Finally, UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.27.

About RTX

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.