Van ECK Associates Corp Increases Stock Position in RTX Co. (NYSE:RTX)

Van ECK Associates Corp lifted its holdings in shares of RTX Co. (NYSE:RTX) by 129.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061,202 shares of the company’s stock after purchasing an additional 2,294,908 shares during the period. Van ECK Associates Corp owned about 0.28% of RTX worth $341,710,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RTX. Northern Trust Corp raised its holdings in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC lifted its holdings in RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after buying an additional 593,305 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays increased their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Citigroup increased their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group increased their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, TheStreet upgraded RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Stock Up 1.0 %

RTX stock traded up $1.04 during midday trading on Monday, hitting $102.45. 4,470,152 shares of the company were exchanged, compared to its average volume of 8,139,442. The company has a market cap of $136.21 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The company’s fifty day moving average price is $95.80 and its 200-day moving average price is $87.92. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is currently 92.55%.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 127,547 shares of company stock worth $12,553,645 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

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.