Danica Pension Livsforsikringsaktieselskab Makes New Investment in RTX Corporation $RTX

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 93,385 shares of the company's stock, valued at approximately $18,014,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in RTX in the fourth quarter worth $3,167,626,000. Auto Owners Insurance Co boosted its position in shares of RTX by 24,730.9% during the fourth quarter. Auto Owners Insurance Co now owns 10,102,956 shares of the company's stock valued at $1,852,882,000 after buying an additional 10,062,269 shares during the period. Vanguard Group Inc. grew its position in RTX by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company's stock valued at $22,922,464,000 after acquiring an additional 2,210,950 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in RTX by 1,545.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,723,710 shares of the company's stock worth $316,128,000 after buying an additional 1,618,933 shares during the period. Finally, Amundi raised its stake in shares of RTX by 49.1% during the fourth quarter. Amundi now owns 4,402,120 shares of the company's stock valued at $807,349,000 after acquiring an additional 1,450,596 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX's Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX's Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX's Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX's Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX's Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX's Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

RTX Price Performance

Shares of NYSE RTX opened at $193.63 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. The firm has a fifty day moving average of $185.24 and a 200 day moving average of $191.81. The firm has a market cap of $260.76 billion, a PE ratio of 36.33, a PEG ratio of 2.66 and a beta of 0.30. RTX Corporation has a one year low of $143.56 and a one year high of $214.50.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $21.38 billion. During the same quarter last year, the business earned $1.47 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts predict that RTX Corporation will post 6.92 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 14th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 14th. RTX's payout ratio is 54.78%.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Wall Street Zen cut shares of RTX from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 26th. Citigroup reaffirmed a "buy" rating on shares of RTX in a research report on Wednesday, June 17th. UBS Group decreased their price target on shares of RTX from $209.00 to $199.00 and set a "neutral" rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Company assumed coverage on RTX in a research report on Wednesday, April 1st. They issued an "equal weight" rating and a $200.00 target price on the stock. Finally, Melius Research raised RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, RTX 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.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Corporation (NYSE:RTX - Free Report).

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.