BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 31,562 Shares of RTX Corporation $RTX

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in RTX Corporation by 102.4%, acquiring 31,562 shares during the first quarter, bringing its total holdings to 62,372 shares worth approximately $8.26 million.
• Numerous institutional investors have modified their positions in RTX, with significant increases from firms such as Deutsche Bank AG, which raised its stake by 46.0% in the last quarter.
• RTX has been rated with an average of "Moderate Buy" from analysts and has a consensus price target of $158.67, indicating positive sentiment towards the stock's performance.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in RTX Corporation (NYSE:RTX - Free Report) by 102.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,372 shares of the company's stock after purchasing an additional 31,562 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in RTX were worth $8,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RTX. Bay Capital Advisors LLC bought a new position in RTX during the first quarter worth about $224,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in shares of RTX in the 1st quarter valued at approximately $1,288,000. Deutsche Bank AG grew its position in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the period. Finally, LBP AM SA increased its stake in RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after purchasing an additional 41,990 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RTX. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research note on Wednesday, May 14th. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Morgan Stanley increased their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Activity

In related news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the sale, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,589 shares of company stock valued at $7,126,389. 0.15% of the stock is owned by insiders.

RTX Trading Up 1.0%

Shares of RTX stock opened at $155.56 on Tuesday. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $149.83 and its 200-day moving average is $136.71. The stock has a market cap of $208.22 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.84 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. Equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is presently 59.78%.

RTX 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.

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