Charles Schwab Investment Management Inc. Has $1.37 Billion Position in RTX Corporation (NYSE:RTX)

Key Points

• Charles Schwab Investment Management Inc. recently increased its stake in RTX Corporation by 1.0%, owning 10,351,568 shares valued at approximately $1.37 billion.
• Several analysts have raised their price targets for RTX stock, with Susquehanna increasing its target from $160 to $175 and UBS lifting it from $166 to $177, reflecting a positive sentiment on the stock.
• RTX Corporation announced a quarterly dividend of $0.68, set to be paid on September 4th, representing an annualized yield of 1.7% with a payout ratio of 59.78%.

Charles Schwab Investment Management Inc. grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,351,568 shares of the company's stock after acquiring an additional 104,139 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of RTX worth $1,371,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bay Capital Advisors LLC acquired a new stake in shares of RTX in the 1st quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC raised its holdings in shares of RTX by 8.4% in 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 during the period. Brookwood Investment Group LLC acquired a new stake in RTX in the 1st quarter valued at about $1,288,000. Deutsche Bank AG grew its holdings in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after purchasing an additional 936,953 shares during the period. Finally, LBP AM SA boosted its stake in shares of 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 acquiring an additional 41,990 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,935 shares of company stock valued at $5,938,488. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RTX shares. Susquehanna increased their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. UBS Group lifted their target price on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley lifted their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Trading Down 0.3%

Shares of RTX stock opened at $155.89 on Thursday. 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 firm has a market capitalization of $208.67 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.88 and a beta of 0.69. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The stock's fifty day simple moving average is $147.09 and its 200 day simple moving average is $134.95.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend 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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