1ST Source Bank Has $3.01 Million Stake in RTX Co. (NYSE:RTX)

1ST Source Bank decreased its position in shares of RTX Co. (NYSE:RTX) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,828 shares of the company’s stock after selling 107 shares during the quarter. 1ST Source Bank’s holdings in RTX were worth $3,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after buying an additional 1,901,256 shares during the period. International Assets Investment Management LLC lifted its holdings in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares during the period. Fisher Asset Management LLC lifted its holdings in RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares during the period. Hsbc Holdings PLC lifted its holdings in RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after buying an additional 702,699 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $1.04 during trading on Friday, hitting $117.09. The stock had a trading volume of 566,565 shares, compared to its average volume of 6,471,315. The firm has a market cap of $155.85 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.07 and a beta of 0.80. RTX Co. has a 12 month low of $79.67 and a 12 month high of $128.70. The business’s 50-day moving average is $121.64 and its 200 day moving average is $115.33. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.27.

About RTX

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.