Peak Asset Management LLC Sells 7,812 Shares of RTX Co. (NYSE:RTX)

Peak Asset Management LLC decreased its stake in RTX Co. (NYSE:RTX) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,521 shares of the company’s stock after selling 7,812 shares during the quarter. RTX makes up about 2.9% of Peak Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Peak Asset Management LLC’s holdings in RTX were worth $15,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in RTX. Capital Research Global Investors lifted its position in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors boosted its position in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Marshall Wace LLP raised its position 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 worth $206,172,000 after acquiring an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $206,095,000 after acquiring an additional 1,686,007 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RTX shares. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company lowered their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 0.3 %

RTX opened at $123.75 on Thursday. The company has a 50-day simple moving average of $122.21 and a 200 day simple moving average of $113.24. The stock has a market capitalization of $164.71 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

About RTX

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.