Intech Investment Management LLC Increases Stock Position in RTX Co. (NYSE:RTX)

Intech Investment Management LLC raised its position in RTX Co. (NYSE:RTX) by 32.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,497 shares of the company’s stock after buying an additional 12,445 shares during the period. Intech Investment Management LLC’s holdings in RTX were worth $6,118,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Gabelli Funds LLC lifted its position in shares of RTX by 68.5% during the 1st quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock valued at $5,232,000 after buying an additional 21,800 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in RTX by 7.0% during the first quarter. Kestra Advisory Services LLC now owns 249,474 shares of the company’s stock valued at $24,331,000 after purchasing an additional 16,304 shares in the last quarter. Ceeto Capital Group LLC grew its position in shares of RTX by 1.5% in the first quarter. Ceeto Capital Group LLC now owns 20,887 shares of the company’s stock valued at $2,038,000 after purchasing an additional 300 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of RTX by 51.7% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 710 shares of the company’s stock worth $69,000 after purchasing an additional 242 shares during the last quarter. Finally, QVR LLC purchased a new stake in RTX during the 1st quarter worth approximately $601,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RTX shares. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report 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 note on Tuesday, July 30th. Royal Bank of Canada boosted their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Nine investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

RTX stock opened at $120.77 on Friday. The business has a 50 day moving average price of $122.17 and a 200 day moving average price of $114.02. 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 market cap of $160.75 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 2.11 and a beta of 0.82. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week high of $128.70.

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. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. 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.