Geode Capital Management LLC Boosts Position in RTX Co. (NYSE:RTX)

Geode Capital Management LLC raised its stake in RTX Co. (NYSE:RTX) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,263,780 shares of the company’s stock after purchasing an additional 508,344 shares during the period. Geode Capital Management LLC owned 2.05% of RTX worth $3,290,622,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RTX. Marshall Wace LLP boosted its stake in RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after acquiring an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the period. Fisher Asset Management LLC grew its stake in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares during the last quarter. Hsbc Holdings PLC increased its position in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after buying an additional 702,699 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RTX shares. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna upped their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Down 1.2 %

RTX stock opened at $116.59 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 12 month low of $79.67 and a 12 month high of $128.70. The firm has a market capitalization of $155.18 billion, a PE ratio of 33.31, a P/E/G ratio of 2.09 and a beta of 0.80. The company’s 50 day simple moving average is $122.07 and its 200-day simple moving average is $115.23.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Equities analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

RTX 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.