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

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of RTX Co. (NYSE:RTX) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,937,660 shares of the company’s stock after purchasing an additional 38,930 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of RTX worth $355,927,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Elgethun Capital Management increased its stake in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its holdings in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC lifted its position in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares during the period. Canal Capital Management LLC boosted its stake in shares of 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 purchasing an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its position in shares of RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Ten 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX opened at $124.56 on Tuesday. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a market cap of $165.79 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.19 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $122.11 and its 200 day moving average is $113.01.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 firm 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 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed 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 2.02%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.