Caisse DE Depot ET Placement DU Quebec Invests $2.17 Million in RTX Co. (NYSE:RTX)

Caisse DE Depot ET Placement DU Quebec bought a new position in RTX Co. (NYSE:RTX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,900 shares of the company’s stock, valued at approximately $2,169,000.

Other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its position in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Legal & General Group Plc raised its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RTX by 5.9% in the 2nd 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 in the last quarter. Finally, FMR LLC grew its stake in shares of RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

RTX opened at $118.67 on Tuesday. The business’s fifty day moving average is $122.34 and its 200-day moving average is $114.68. 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 $79.67 and a 52-week high of $128.70. The firm has a market cap of $157.95 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 2.16 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $19.84 billion. During the same period in the prior year, the company posted $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect 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 paid a $0.63 dividend. 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%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.