Associated Banc Corp Has $42.87 Million Position in RTX Co. (NYSE:RTX)

Associated Banc Corp boosted its holdings in shares of RTX Co. (NYSE:RTX) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 353,791 shares of the company’s stock after buying an additional 3,137 shares during the period. RTX makes up about 1.3% of Associated Banc Corp’s portfolio, making the stock its 18th largest position. Associated Banc Corp’s holdings in RTX were worth $42,865,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RTX. Elgethun Capital Management lifted its stake in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC grew its holdings in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the period. Canal Capital Management LLC grew 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 acquiring an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its stake in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.9 %

Shares of RTX stock traded down $1.08 on Monday, hitting $119.69. The stock had a trading volume of 810,681 shares, compared to its average volume of 6,591,625. The firm has a market capitalization of $159.31 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.14 and a beta of 0.82. RTX Co. has a 1 year low of $79.13 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company’s 50 day moving average price is $122.17 and its 200-day moving average price is $114.17.

RTX (NYSE:RTX) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.11%. RTX’s dividend payout ratio is presently 72.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.