International Assets Investment Management LLC Buys 1,686,007 Shares of RTX Co. (NYSE:RTX)

International Assets Investment Management LLC raised its stake in RTX Co. (NYSE:RTX) by 11,235.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,701,013 shares of the company’s stock after buying an additional 1,686,007 shares during the period. International Assets Investment Management LLC’s holdings in RTX were worth $206,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Manning & Napier Advisors LLC bought a new position in RTX during the 2nd quarter worth approximately $30,837,000. Capital Advisors Ltd. LLC increased its position in shares of RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after buying an additional 166 shares during the period. O Shaughnessy Asset Management LLC raised its stake in RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares during the last quarter. Cetera Investment Advisers lifted its holdings in RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after buying an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX during the second quarter valued at $602,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $125.18 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business has a 50-day simple moving average of $121.59 and a two-hundred day simple moving average of $111.12. The company has a market capitalization of $166.52 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a 52-week low of $77.76 and a 52-week high of $128.70.

RTX (NYSE:RTX) last announced 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. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Research analysts expect that RTX Co. will post 5.5 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. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $168.56.

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.