Bank of New York Mellon Corp Raises Stake in RTX Co. (NYSE:RTX)

Bank of New York Mellon Corp grew its position in RTX Co. (NYSE:RTX) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,806,866 shares of the company’s stock after acquiring an additional 549,814 shares during the period. Bank of New York Mellon Corp’s holdings in RTX were worth $1,134,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the period. FMR LLC grew its position in shares of RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after purchasing an additional 140,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in RTX by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after purchasing an additional 25,407 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RTX shares. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

NYSE:RTX opened at $125.33 on Tuesday. The firm has a market capitalization of $166.95 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business has a 50 day simple moving average of $121.64 and a 200-day simple moving average of $121.05. RTX Co. has a 1 year low of $88.95 and a 1 year high of $132.43.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

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.