RTX Corporation $RTX Stock Holdings Lifted by Johnson Financial Group Inc.

Johnson Financial Group Inc. grew its stake in shares of RTX Corporation (NYSE:RTX) by 122.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,309 shares of the company’s stock after acquiring an additional 5,118 shares during the period. Johnson Financial Group Inc.’s holdings in RTX were worth $1,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of RTX by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock valued at $22,922,464,000 after purchasing an additional 2,210,950 shares during the period. State Street Corp raised its holdings in RTX by 0.7% during the 4th quarter. State Street Corp now owns 91,884,588 shares of the company’s stock worth $16,851,633,000 after buying an additional 630,558 shares during the period. Morgan Stanley lifted its stake in RTX by 0.4% during the fourth quarter. Morgan Stanley now owns 29,783,584 shares of the company’s stock valued at $5,462,310,000 after buying an additional 105,069 shares in the last quarter. Fisher Asset Management LLC lifted its stake in RTX by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 21,800,188 shares of the company’s stock valued at $3,998,155,000 after buying an additional 625,994 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of RTX in the fourth quarter worth about $3,167,626,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock opened at $193.63 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.02. The stock has a market cap of $260.76 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 0.30. The firm has a 50 day simple moving average of $185.24 and a 200 day simple moving average of $191.81. RTX Corporation has a 52 week low of $143.56 and a 52 week high of $214.50.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $21.38 billion. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that RTX Corporation will post 6.92 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. RTX’s payout ratio is currently 54.78%.

Trending Headlines about RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

Analyst Ratings Changes

Several research firms have recently weighed in on RTX. Wells Fargo & Company began coverage on shares of RTX in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 target price on the stock. Erste Group Bank downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Citigroup reiterated a “buy” rating on shares of RTX in a research report on Wednesday, June 17th. Weiss Ratings cut RTX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, Morgan Stanley lowered their price target on RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.38.

RTX Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.