MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stake in RTX Corporation $RTX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in RTX Corporation by 50.9%, acquiring an additional 329,928 shares, bringing its total holdings to approximately 977,977 shares with a value of $129,543,000.
• Several analysts have raised their price targets for RTX, with Bank of America setting a new target of $175.00, and the stock currently has a consensus rating of "Moderate Buy".
• RTX announced a quarterly dividend of $0.68 per share, reflecting an annual yield of 1.7%, with a dividend payout ratio of 59.78%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in RTX Corporation (NYSE:RTX - Free Report) by 50.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 977,977 shares of the company's stock after buying an additional 329,928 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of RTX worth $129,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the first quarter valued at about $26,000. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter valued at about $29,000. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of RTX in the first quarter valued at about $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $43,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by company insiders.

RTX Stock Down 0.6%

RTX traded down $1.01 during trading hours on Friday, hitting $157.67. 4,044,970 shares of the company's stock were exchanged, compared to its average volume of 3,373,661. The firm has a market cap of $211.04 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.90 and a beta of 0.67. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $153.69 and a 200 day moving average of $139.75.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 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 company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the company posted $1.41 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX's dividend payout ratio (DPR) is presently 59.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RTX. Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Susquehanna increased their target price on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. UBS Group increased their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.67.

RTX Company 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.