Erste Asset Management GmbH Purchases 25,155 Shares of RTX Corporation $RTX

Key Points

• Erste Asset Management GmbH increased its RTX stake by 333.9% in the fourth quarter, buying 25,155 additional shares and bringing its total holdings to 32,689 shares worth about $6.0 million.
• RTX has recently benefited from a series of positive catalysts, including a Jefferies upgrade to Buy with a $220 price target and a roughly $1.02 billion air-defense contract for NASAMS fire units.
• The company also reported solid fundamentals: quarterly earnings of $1.78 per share beat estimates, revenue rose 8.7% year over year, and RTX raised its quarterly dividend to $0.73 per share.

Erste Asset Management GmbH raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 333.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,689 shares of the company's stock after purchasing an additional 25,155 shares during the period. Erste Asset Management GmbH's holdings in RTX were worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Alpha Cubed Investments LLC raised its position in RTX by 0.3% during the 4th quarter. Alpha Cubed Investments LLC now owns 14,720 shares of the company's stock valued at $2,700,000 after purchasing an additional 50 shares in the last quarter. LeConte Wealth Management LLC raised its position in shares of RTX by 2.3% in the 4th quarter. LeConte Wealth Management LLC now owns 2,247 shares of the company's stock worth $412,000 after acquiring an additional 51 shares in the last quarter. Rydar Equities Inc. raised its position in shares of RTX by 0.4% in the 4th quarter. Rydar Equities Inc. now owns 13,524 shares of the company's stock worth $2,480,000 after acquiring an additional 52 shares in the last quarter. Howard Capital Management Inc. raised its position in shares of RTX by 0.4% in the 4th quarter. Howard Capital Management Inc. now owns 12,340 shares of the company's stock worth $2,263,000 after acquiring an additional 53 shares in the last quarter. Finally, Purus Wealth Management LLC raised its position in shares of RTX by 0.4% in the 4th quarter. Purus Wealth Management LLC now owns 14,722 shares of the company's stock worth $2,700,000 after acquiring an additional 53 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Jefferies upgraded RTX to Buy from Hold and raised its price target to $220, citing improving profit margins and growth prospects. Jefferies Upgrades RTX Corporation (RTX) To Buy From Hold
• Positive Sentiment: RTX’s Raytheon unit is investing $100 million to expand missile-defense production and radar-testing capacity in Rhode Island, a sign of strong demand for LTAMDS and Patriot components. RTX invests $100 million to accelerate radar testing and interceptor production in Rhode Island
• Positive Sentiment: Collins Aerospace, an RTX business, expanded its Malaysia MRO facility with a $63 million investment, quadrupling footprint to meet growing commercial aviation maintenance demand. RTX's Collins Aerospace quadruples MRO footprint in Malaysia
• Positive Sentiment: RTX also won a roughly $1.02 billion air-defense contract for NASAMS fire units, adding long-term revenue visibility for the defense segment. RTX Wins A Billion-Dollar Air Defense Contract With Long-Term Visibility
• Neutral Sentiment: Recent headlines about U.S. strikes against Iran may keep defense stocks like RTX in focus, but the direct impact on RTX’s fundamentals is not yet clear. U.S. Launches Retaliatory Strikes Against Iran — Defense Stocks, ETFs On Watch
• Neutral Sentiment: RTX shares also recently slipped on a broader market basis, even as the company’s defense backlog and expansion plans remained intact. RTX (RTX) Stock Declines While Market Improves: Some Information for Investors

RTX Stock Up 1.6%

Shares of RTX stock opened at $181.54 on Wednesday. The stock's 50-day simple moving average is $183.59 and its 200-day simple moving average is $188.89. 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 market capitalization of $244.48 billion, a PE ratio of 34.06, a P/E/G ratio of 2.53 and a beta of 0.31. RTX Corporation has a fifty-two week low of $135.43 and a fifty-two week high of $214.50.

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

RTX Increases Dividend

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

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price target on shares of RTX in a research report on Thursday, March 5th. Weiss Ratings reissued a "buy (b)" rating on shares of RTX in a research report on Friday, April 10th. Morgan Stanley reduced their price target on RTX from $235.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Erste Group Bank lowered RTX from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Melius Research raised RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $211.38.

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.

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.