Assenagon Asset Management S.A. Boosts Position in RTX Corporation $RTX

Key Points

• Assenagon Asset Management increased its RTX stake by 196.3% in the first quarter, buying more than 1.18 million shares and bringing its total holding to 1.78 million shares worth about $344 million.
• RTX reported stronger-than-expected quarterly results, with EPS of $1.78 topping estimates and revenue of $22.08 billion beating forecasts, while revenue rose 8.7% year over year.
• The company also raised its quarterly dividend to $0.73 per share from $0.68, and analysts currently rate RTX a Moderate Buy with an average price target of $211.38.

Assenagon Asset Management S.A. lifted its position in RTX Corporation (NYSE:RTX - Free Report) by 196.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,783,528 shares of the company's stock after buying an additional 1,181,537 shares during the quarter. RTX makes up approximately 0.5% of Assenagon Asset Management S.A.'s portfolio, making the stock its 28th biggest holding. Assenagon Asset Management S.A. owned approximately 0.13% of RTX worth $344,043,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Consilium Wealth Advisory LLC boosted its stake in RTX by 11.8% during the first quarter. Consilium Wealth Advisory LLC now owns 10,384 shares of the company's stock valued at $2,003,000 after buying an additional 1,098 shares during the period. Brandywine Oak Private Wealth LLC increased its stake in RTX by 2.2% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 5,821 shares of the company's stock worth $1,123,000 after acquiring an additional 125 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of RTX by 10.4% in the 1st quarter. Focused Wealth Management Inc now owns 1,284 shares of the company's stock valued at $248,000 after acquiring an additional 121 shares in the last quarter. Centennial Wealth Advisory LLC purchased a new stake in shares of RTX in the 1st quarter valued at about $210,000. Finally, Faithward Advisors LLC boosted its position in shares of RTX by 333.8% during the 1st quarter. Faithward Advisors LLC now owns 11,232 shares of the company's stock valued at $2,167,000 after acquiring an additional 8,643 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX stock opened at $186.67 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.02. RTX Corporation has a 52-week low of $140.47 and a 52-week high of $214.50. The company has a fifty day moving average of $181.14 and a 200-day moving average of $189.84. The stock has a market capitalization of $251.38 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.58 and a beta of 0.31.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.26. The company had revenue of $22.08 billion for the quarter, compared to analysts' expectations of $21.38 billion. RTX had a net margin of 8.03% and a return on equity of 13.50%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. Equities research analysts expect that RTX Corporation will post 6.91 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd were paid a $0.73 dividend. This is a boost from RTX's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.6%. RTX's dividend payout ratio is presently 54.78%.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Analysts and industry commentary highlighted RTX as a beneficiary of rising defense budgets, record backlogs, and ongoing growth opportunities versus peers like General Dynamics, which can support investor confidence in the company’s long-term earnings outlook. RTX vs. General Dynamics: Which Defense Contractor Offers More Upside?
• Positive Sentiment: Separate coverage pointed to RTX expanding connected aviation capabilities through avionics, communications, and data-management technologies, underscoring demand in its aerospace businesses. How Is RTX Advancing Connectivity Across Modern Aviation Systems?
• Neutral Sentiment: RTX agreed to sell Blue Canyon Technologies to MDA Space, a portfolio move that may sharpen focus on core defense and space programs but is not a major immediate earnings catalyst. RTX (RTX) Sells Blue Canyon As China Export Curbs Add Supply Risk
• Negative Sentiment: The same article flagged new Chinese export controls on rare earths and defense-related materials, which could add supply-chain and sourcing pressure for RTX and other U.S. defense contractors. RTX (RTX) Sells Blue Canyon As China Export Curbs Add Supply Risk

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RTX shares. Wall Street Zen cut shares of RTX from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 26th. Morgan Stanley cut their price target on shares of RTX from $235.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Erste Group Bank lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Monday, April 27th. Jefferies Financial Group upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the company from $210.00 to $220.00 in a research report on Thursday, June 4th. Finally, Citigroup reiterated a "buy" rating on shares of RTX in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $211.38.

RTX Company Profile

RTX NYSE: RTX is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX's operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.