Ascent Group LLC Buys 12,172 Shares of RTX Co. (NYSE:RTX)

by · The Markets Daily

Ascent Group LLC boosted its stake in RTX Co. (NYSE:RTX – Free Report) by 487.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,671 shares of the company’s stock after acquiring an additional 12,172 shares during the period. Ascent Group LLC’s holdings in RTX were worth $1,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Napa Wealth Management acquired a new stake in shares of RTX during the third quarter worth $1,307,000. Manning & Napier Advisors LLC acquired a new stake in RTX during the 2nd quarter worth about $30,837,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of RTX in the 3rd quarter worth about $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of RTX by 36.5% during 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

RTX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Susquehanna boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

Read Our Latest Stock Report on RTX

RTX Stock Performance

NYSE RTX opened at $118.67 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a fifty day moving average price of $122.34 and a 200-day moving average price of $114.68. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The firm has a market cap of $157.95 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.16 and a beta of 0.80.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating 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 firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm 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 $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

About RTX

(Free Report)

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.

Further Reading

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