Hotchkis & Wiley Capital Management LLC Has $248.01 Million Holdings in RTX Co. (NYSE:RTX)

Hotchkis & Wiley Capital Management LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 12.6% in the third quarter, Holdings Channel.com reports. The fund owned 2,046,991 shares of the company’s stock after selling 295,500 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in RTX were worth $248,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Legal & General Group Plc grew 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 buying an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after acquiring an additional 417,789 shares during the period. Finally, FMR LLC grew its stake in RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

Shares of RTX opened at $118.67 on Tuesday. The company has a market cap of $157.95 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.80. 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 Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The firm has a fifty day moving average of $122.34 and a 200-day moving average of $114.68.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 last year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. 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.