Van ECK Associates Corp Purchases 532,970 Shares of RTX Co. (NYSE:RTX)

Van ECK Associates Corp lifted its holdings in RTX Co. (NYSE:RTX) by 30.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,310,221 shares of the company’s stock after buying an additional 532,970 shares during the quarter. Van ECK Associates Corp owned approximately 0.17% of RTX worth $267,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. ORG Wealth Partners LLC purchased a new position in RTX during the 3rd quarter worth approximately $50,000. Creative Planning increased its stake in shares of RTX by 1.2% in the 3rd quarter. Creative Planning now owns 490,632 shares of the company’s stock valued at $59,445,000 after purchasing an additional 5,967 shares in the last quarter. Regatta Capital Group LLC acquired a new position in RTX in the 3rd quarter worth about $232,000. Lynch & Associates IN lifted its position in shares of RTX by 1.8% during the 3rd quarter. Lynch & Associates IN now owns 33,186 shares of the company’s stock valued at $4,021,000 after buying an additional 584 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in RTX during the 3rd quarter worth approximately $823,000. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

NYSE RTX opened at $126.82 on Thursday. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The stock has a market cap of $168.94 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a 50-day moving average price of $120.55 and a two-hundred day moving average price of $120.53. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.99%. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. UBS Group boosted their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

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.