Mediolanum International Funds Ltd Boosts Position in RTX Co. (NYSE:RTX)

Mediolanum International Funds Ltd raised its position in shares of RTX Co. (NYSE:RTX) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,400 shares of the company’s stock after acquiring an additional 1,831 shares during the quarter. Mediolanum International Funds Ltd’s holdings in RTX were worth $3,534,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc raised its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter worth about $41,000. Finally, Stephens Consulting LLC raised its holdings in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of RTX opened at $125.16 on Friday. The stock has a market capitalization of $166.40 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1 year low of $77.76 and a 1 year high of $128.70. The company’s fifty day moving average is $121.74 and its two-hundred day moving average is $111.35.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that RTX Co. will post 5.5 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,856 shares of company stock worth $17,131,253. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Susquehanna raised their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. UBS Group raised 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. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $168.56.

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.