Sumitomo Mitsui Trust Group Inc. Boosts Holdings in RTX Co. (NYSE:RTX)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of RTX Co. (NYSE:RTX) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,937,660 shares of the company’s stock after acquiring an additional 38,930 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in RTX were worth $355,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Elgethun Capital Management lifted its stake in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its stake in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares during the last quarter. Canal Capital Management LLC grew its holdings in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after buying an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its stake in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.8 %

NYSE RTX opened at $124.56 on Tuesday. The company’s 50-day simple moving average is $122.11 and its two-hundred day simple moving average is $113.01. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a market capitalization of $165.79 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.19 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 (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.