Penserra Capital Management LLC Trims Stake in RTX Co. (NYSE:RTX)

Penserra Capital Management LLC reduced its position in RTX Co. (NYSE:RTX) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,774 shares of the company’s stock after selling 972 shares during the quarter. Penserra Capital Management LLC’s holdings in RTX were worth $5,545,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the period. Ameriprise Financial Inc. lifted its position in shares of RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after purchasing an additional 38,930 shares during the last quarter. Finally, National Pension Service increased its stake in RTX by 14.5% in the 3rd quarter. National Pension Service now owns 2,483,792 shares of the company’s stock worth $300,936,000 after buying an additional 313,710 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Trading Up 0.2 %

NYSE RTX opened at $120.77 on Monday. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70. The company has a 50 day moving average price of $122.17 and a 200 day moving average price of $114.17. 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 firm has a market cap of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

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.