RTX Co. (NYSE:RTX) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 17.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,215 shares of the company’s stock after purchasing an additional 3,169 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in RTX were worth $2,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors increased its position in RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the period. International Assets Investment Management LLC boosted its position in RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock opened at $119.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The stock’s 50 day moving average price is $122.16 and its 200 day moving average price is $113.68. The firm has a market capitalization of $158.92 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RTX. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price 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. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $177.27.

RTX Company 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.