AustralianSuper Pty Ltd Buys 2,975 Shares of RTX Co. (NYSE:RTX)

AustralianSuper Pty Ltd grew its stake in shares of RTX Co. (NYSE:RTX) by 15.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,247 shares of the company’s stock after acquiring an additional 2,975 shares during the period. AustralianSuper Pty Ltd’s holdings in RTX were worth $2,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter worth approximately $41,000. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter worth approximately $50,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RTX. 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 report on Wednesday, October 23rd. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Susquehanna upped their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Ten equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $177.27.

RTX Stock Down 0.7 %

NYSE:RTX opened at $120.99 on Friday. The firm has a 50-day simple moving average of $122.13 and a two-hundred day simple moving average of $111.89. The firm has a market cap of $161.04 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.12 and a beta of 0.82. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. 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 (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. Analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.08%. RTX’s dividend payout ratio (DPR) is 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.