Associated Banc Corp Has $65.85 Million Position in RTX Corporation $RTX

Key Points

• Associated Banc Corp increased its RTX stake by 1.6% in the fourth quarter, ending with 359,025 shares valued at about $65.85 million. RTX is now its 11th-largest holding and makes up roughly 1.7% of its portfolio.
• RTX reported strong quarterly results, with EPS of $1.78 beating estimates and revenue of $22.08 billion topping expectations. The company also raised its full-year guidance and maintained solid profitability metrics.
• The company increased its quarterly dividend to $0.73 per share from $0.68, while analysts currently rate the stock a Moderate Buy with an average price target of $210.75.

Associated Banc Corp boosted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 359,025 shares of the company's stock after purchasing an additional 5,740 shares during the quarter. RTX comprises approximately 1.7% of Associated Banc Corp's investment portfolio, making the stock its 11th largest holding. Associated Banc Corp's holdings in RTX were worth $65,845,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BNP Paribas purchased a new position in RTX during the 3rd quarter worth $25,000. Navalign LLC purchased a new position in shares of RTX in the 4th quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of RTX in the 3rd quarter worth about $30,000. Wexford Capital LP purchased a new position in shares of RTX in the 3rd quarter worth about $33,000. Finally, Dogwood Wealth Management LLC boosted its holdings in shares of RTX by 57.3% in the 3rd quarter. Dogwood Wealth Management LLC now owns 206 shares of the company's stock worth $34,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RTX shares. Robert W. Baird set a $225.00 price target on shares of RTX in a report on Wednesday, January 28th. Jefferies Financial Group cut their price target on shares of RTX from $225.00 to $210.00 and set a "hold" rating on the stock in a report on Monday, April 13th. Citigroup cut their price target on shares of RTX from $238.00 to $226.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of RTX in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price target on shares of RTX in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $210.75.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 12,713 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $202.83, for a total transaction of $2,578,577.79. Following the completion of the sale, the executive vice president owned 16,749 shares of the company's stock, valued at approximately $3,397,199.67. This represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

RTX Stock Up 0.6%

Shares of NYSE RTX opened at $177.06 on Friday. RTX Corporation has a one year low of $130.90 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. The firm's 50 day simple moving average is $188.64 and its two-hundred day simple moving average is $188.66. The stock has a market capitalization of $238.45 billion, a P/E ratio of 33.22, a PEG ratio of 2.49 and a beta of 0.31.

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

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.73 per share. The ex-dividend date is Friday, May 22nd. This is an increase from RTX's previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a yield of 1.6%. RTX's dividend payout ratio (DPR) is 51.03%.

RTX 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.

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