Los Angeles Capital Management LLC Raises Holdings in RTX Co. (NYSE:RTX)

Los Angeles Capital Management LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 498.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,793 shares of the company’s stock after acquiring an additional 434,628 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RTX were worth $63,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RTX. Capital Research Global Investors lifted its holdings in RTX by 4.2% in 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 during the period. Capital International Investors lifted its holdings 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 period. Clearbridge Investments LLC lifted its holdings in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc lifted its holdings in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, RTX has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

NYSE RTX traded up $3.47 on Friday, hitting $123.55. 6,382,044 shares of the company traded hands, compared to its average volume of 4,978,090. The company has a market capitalization of $164.45 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.19 and a beta of 0.82. 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 business’s 50 day moving average price is $122.08 and its 200-day moving average price is $112.77. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70.

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

RTX Dividend Announcement

The firm 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 $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s payout ratio 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.