Van ECK Associates Corp Has $226.08 Million Stock Holdings in RTX Co. (NYSE:RTX)

Van ECK Associates Corp cut its stake in shares of RTX Co. (NYSE:RTX) by 53.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,777,251 shares of the company’s stock after selling 2,051,031 shares during the period. Van ECK Associates Corp owned 0.13% of RTX worth $226,084,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RTX. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the second quarter valued at approximately $41,000. Finally, Stephens Consulting LLC lifted its position in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX stock traded down $2.24 during trading on Friday, reaching $118.75. 5,235,060 shares of the company’s stock were exchanged, compared to its average volume of 4,109,141. 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 $78.00 and a 1-year high of $128.70. The company has a market cap of $158.06 billion, a P/E ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. The firm’s 50-day moving average price is $122.13 and its 200 day moving average price is $112.02.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RTX. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna lifted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.