Investment Management Corp of Ontario Acquires 48,094 Shares of RTX Co. (NYSE:RTX)

Investment Management Corp of Ontario lifted its stake in shares of RTX Co. (NYSE:RTX) by 95.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,260 shares of the company’s stock after acquiring an additional 48,094 shares during the period. Investment Management Corp of Ontario’s holdings in RTX were worth $11,905,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its stake in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc increased 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of RTX by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after acquiring an additional 417,789 shares during the period. Finally, FMR LLC raised its holdings in shares of RTX by 8.7% during the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 2.6 %

NYSE:RTX opened at $118.68 on Tuesday. The company has a market cap of $157.97 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.80. 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 stock has a fifty day simple moving average of $122.34 and a 200-day simple moving average of $114.68. RTX Co. has a twelve month low of $79.67 and a twelve month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS 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 firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.56 EPS for the current 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 $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RTX. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

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.