German American Bancorp Inc. Increases Stock Holdings in RTX Co. (NYSE:RTX)

German American Bancorp Inc. grew its holdings in shares of RTX Co. (NYSE:RTX) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,342 shares of the company’s stock after purchasing an additional 2,255 shares during the period. German American Bancorp Inc.’s holdings in RTX were worth $3,555,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Napa Wealth Management acquired a new stake in RTX during the 3rd quarter worth approximately $1,307,000. Manning & Napier Advisors LLC acquired a new stake in shares of RTX in the second quarter valued at $30,837,000. Mirae Asset Global Investments Co. Ltd. grew its stake in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank purchased a new stake in RTX during the 3rd quarter worth about $953,000. Finally, Robeco Institutional Asset Management B.V. raised its position in RTX by 36.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on RTX shares. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price objective 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. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Performance

Shares of RTX opened at $119.14 on Thursday. The company’s 50 day simple moving average is $122.13 and its 200-day simple moving average is $113.84. The firm has a market cap of $158.58 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the firm posted $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio 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.