Parthenon LLC Acquires New Position in RTX Co. (NYSE:RTX)

Parthenon LLC bought a new position in RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,217 shares of the company’s stock, valued at approximately $269,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors raised its stake in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors raised 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 worth $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Marshall Wace LLP lifted its stake in RTX by 1,247.1% during the 2nd 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 during the period. International Assets Investment Management LLC boosted its holdings in shares of RTX by 11,235.6% during 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 acquiring an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RTX shares. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna raised 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. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $177.27.

RTX Price Performance

RTX stock traded up $0.11 during mid-day trading on Wednesday, hitting $123.48. The stock had a trading volume of 364,792 shares, compared to its average volume of 6,659,705. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $164.35 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.20 and a beta of 0.82. The firm’s 50 day moving average is $122.16 and its 200 day moving average is $113.17.

RTX (NYSE:RTX) last released its quarterly earnings data 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. The firm 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

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