Meiji Yasuda America Inc Invests $4.94 Million in RTX Corporation $RTX

Meiji Yasuda America Inc bought a new stake in shares of RTX Corporation (NYSE:RTX) in the 1st quarter, HoldingsChannel.com reports. The fund bought 25,606 shares of the company’s stock, valued at approximately $4,939,000. RTX accounts for approximately 1.2% of Meiji Yasuda America Inc’s holdings, making the stock its 26th largest holding.

Several other large investors have also recently made changes to their positions in RTX. Brighton Jones LLC increased its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares during the period. United Bank boosted its stake in shares of RTX by 68.0% during the 2nd quarter. United Bank now owns 10,202 shares of the company’s stock worth $1,490,000 after acquiring an additional 4,131 shares in the last quarter. Schnieders Capital Management LLC. grew its position in shares of RTX by 3.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 20,900 shares of the company’s stock valued at $3,052,000 after acquiring an additional 623 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of RTX during the 2nd quarter valued at about $5,157,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RTX shares. Erste Group Bank cut RTX from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Morgan Stanley cut their price objective on RTX from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. UBS Group reduced their target price on RTX from $209.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Melius Research upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company assumed coverage on shares of RTX in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price of $211.38.

Key Stories Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

RTX Trading Down 0.4%

Shares of RTX stock opened at $193.63 on Wednesday. The firm has a market capitalization of $260.76 billion, a PE ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 0.30. RTX Corporation has a twelve month low of $143.56 and a twelve month high of $214.50. The firm’s 50-day moving average price is $185.24 and its 200 day moving average price is $191.81. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.52 by $0.26. RTX had a return on equity of 13.50% and a net margin of 8.03%.The company had revenue of $22.08 billion during the quarter, compared to analyst estimates of $21.38 billion. During the same period in the previous year, the business earned $1.47 EPS. RTX’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that RTX Corporation will post 6.92 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. RTX’s payout ratio is currently 54.78%.

RTX Company Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.