Fifth Third Bancorp Purchases New Holdings in RTX Corporation $RTX

Fifth Third Bancorp purchased a new position in shares of RTX Corporation (NYSE:RTX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,120,889 shares of the company’s stock, valued at approximately $208,093,000. Fifth Third Bancorp owned about 0.08% of RTX as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Montz Harcus Wealth Management LLC lifted its position in shares of RTX by 3.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 1,641 shares of the company’s stock worth $311,000 after purchasing an additional 51 shares during the last quarter. IMG Wealth Management Inc. boosted its stake in shares of RTX by 5.7% during the third quarter. IMG Wealth Management Inc. now owns 958 shares of the company’s stock valued at $178,000 after purchasing an additional 52 shares during the period. Safeguard Investment Advisory Group LLC grew its holdings in shares of RTX by 2.4% in the second quarter. Safeguard Investment Advisory Group LLC now owns 2,269 shares of the company’s stock worth $430,000 after purchasing an additional 53 shares during the last quarter. Global View Capital Management LLC grew its holdings in shares of RTX by 4.0% in the third quarter. Global View Capital Management LLC now owns 1,373 shares of the company’s stock worth $255,000 after purchasing an additional 53 shares during the last quarter. Finally, Investment Research Partners LLC grew its holdings in shares of RTX by 2.3% in the third quarter. Investment Research Partners LLC now owns 2,502 shares of the company’s stock worth $464,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, EVP Dantaya Williams sold 9,071 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $201.70, for a total value of $1,829,620.70. Following the completion of the transaction, the executive vice president owned 16,930 shares of the company’s stock, valued at $3,414,781. The trade was a 34.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total value of $3,057,627.60. Following the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at approximately $2,952,161.28. This represents a 50.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Latest RTX News

Investors following RTX have been watching these news items:

• Positive Sentiment: Analyst upgrade: Zacks Research raised RTX from “hold” to “strong buy.” Separate commentary points to rising earnings estimates and growth prospects in defense technology and aerospace services. Zacks analysis
• Positive Sentiment: Cash-flow outlook: A report says RTX expects margin expansion and cash-flow growth in 2027, which could support future earnings and shareholder returns. RTX margin and cash-flow outlook
• Neutral Sentiment: Valuation remains a consideration: RTX has substantially outperformed over the past three years, prompting questions about whether its share price is justified by expected cash flows. The positive growth outlook is balanced by a premium valuation.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Deutsche Bank downgraded shares of RTX from a “buy” rating to a “hold” rating and set a $208.00 target price on the stock. in a research note on Tuesday, October 13th. Barclays raised their target price on shares of RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Wells Fargo & Company lifted their price target on shares of RTX from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Finally, Zacks Research raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.24.

RTX Stock Up 0.5%

NYSE:RTX opened at $201.37 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. RTX Corporation has a 1-year low of $166.74 and a 1-year high of $226.88. The company has a 50-day moving average of $192.93 and a 200 day moving average of $195.57. The firm has a market cap of $271.74 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.30.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.11 billion. During the same quarter last year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that RTX Corporation will post 7.73 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio (DPR) is presently 47.40%.

About RTX

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.