Victory Capital Management Inc. Has $96.41 Million Stock Position in RTX Co. (NYSE:RTX)

Victory Capital Management Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,737 shares of the company’s stock after selling 8,981 shares during the quarter. Victory Capital Management Inc. owned 0.06% of RTX worth $96,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barnett & Company Inc. boosted its stake in RTX by 13.6% during the third quarter. Barnett & Company Inc. now owns 19,580 shares of the company’s stock worth $2,372,000 after buying an additional 2,350 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in RTX by 40.4% during the third quarter. Aptus Capital Advisors LLC now owns 19,375 shares of the company’s stock worth $2,347,000 after purchasing an additional 5,578 shares during the period. Savvy Advisors Inc. boosted its holdings in RTX by 11.1% during the third quarter. Savvy Advisors Inc. now owns 8,973 shares of the company’s stock valued at $1,087,000 after purchasing an additional 896 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of RTX by 1.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 63,949 shares of the company’s stock valued at $7,748,000 after purchasing an additional 808 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of RTX by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after buying an additional 38,930 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $123.75 on Thursday. The stock has a market cap of $164.71 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $122.21 and its 200 day simple moving average is $113.24.

RTX (NYSE:RTX) last issued 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 net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on RTX shares. Royal Bank of Canada upped their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Robert W. Baird upped their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Melius Research boosted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.