Principal Financial Group Inc. Grows Stock Position in RTX Co. (NYSE:RTX)

Principal Financial Group Inc. lifted its stake in RTX Co. (NYSE:RTX) by 6.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,901,336 shares of the company’s stock after buying an additional 114,283 shares during the quarter. Principal Financial Group Inc.’s holdings in RTX were worth $230,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Elgethun Capital Management grew its stake in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the period. Avestar Capital LLC grew its position in RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its holdings in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares in the last quarter. Finally, Canal Capital Management LLC boosted its stake in shares of RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after acquiring an additional 87 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.9 %

RTX stock opened at $115.46 on Friday. The company has a market cap of $153.68 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 2.08 and a beta of 0.80. The firm has a 50-day moving average of $120.89 and a two-hundred day moving average of $115.70. RTX Co. has a 12 month low of $81.37 and a 12 month 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.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for 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%. The firm’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. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analyst Ratings Changes

RTX has been the subject of several recent analyst reports. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.93.

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.