M&T Bank Corp Sells 11,524 Shares of RTX Co. (NYSE:RTX)

M&T Bank Corp lessened its position in RTX Co. (NYSE:RTX) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 591,351 shares of the company’s stock after selling 11,524 shares during the period. M&T Bank Corp’s holdings in RTX were worth $71,648,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC lifted its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Legal & General Group Plc boosted its position in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during 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 worth $831,740,000 after acquiring an additional 408,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.9 %

Shares of RTX opened at $116.48 on Friday. The firm has a market cap of $155.04 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. 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 52 week low of $81.37 and a 52 week high of $128.70. The firm’s 50-day simple moving average is $120.89 and its 200 day simple moving average is $115.70.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company 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 for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Royal Bank of Canada upgraded shares of RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a report on Thursday. Susquehanna raised their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.93.

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.