RTX Corporation $RTX Position Increased by Auto Owners Insurance Co

Key Points

• Auto Owners Insurance Co dramatically increased its RTX stake in the fourth quarter, adding more than 10 million shares and bringing its holding to 10.1 million shares worth about $1.85 billion.
• Wall Street sentiment on RTX remains constructive, with a Moderate Buy consensus and an average price target of $211.38. Recent analyst actions included upgrades and reiterated buy ratings from several firms.
• RTX reported better-than-expected earnings and revenue in its latest quarter, raised its quarterly dividend to $0.73 per share, and continues to benefit from defense-related themes such as higher European defense spending and demand for munitions.

Auto Owners Insurance Co boosted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 24,730.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,102,956 shares of the company's stock after purchasing an additional 10,062,269 shares during the period. RTX accounts for 0.4% of Auto Owners Insurance Co's investment portfolio, making the stock its 25th biggest holding. Auto Owners Insurance Co owned 0.75% of RTX worth $1,852,882,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RTX. Navalign LLC purchased a new stake in shares of RTX during the 4th quarter worth about $25,000. Commonwealth Retirement Investments LLC bought a new position in RTX during the fourth quarter valued at approximately $26,000. BNP Paribas acquired a new stake in RTX in the third quarter valued at approximately $25,000. Core Wealth Advisors LLC bought a new stake in RTX in the fourth quarter worth approximately $31,000. Finally, 1 North Wealth Services LLC grew its position in RTX by 456.7% in the fourth quarter. 1 North Wealth Services LLC now owns 167 shares of the company's stock worth $31,000 after acquiring an additional 137 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Dbs Bank upgraded shares of RTX from a "hold" rating to a "moderate buy" rating in a report on Wednesday, June 10th. Wells Fargo & Company started coverage on RTX in a report on Wednesday, April 1st. They set an "equal weight" rating and a $200.00 price objective on the stock. Citigroup restated a "buy" rating on shares of RTX in a report on Wednesday. Wall Street Zen downgraded shares of RTX from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 target price on shares of RTX in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.38.

RTX Price Performance

RTX stock opened at $186.07 on Friday. The business has a 50 day simple moving average of $181.86 and a 200 day simple moving average of $189.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. The company has a market capitalization of $250.58 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.63 and a beta of 0.31. RTX Corporation has a one year low of $140.47 and a one year high of $214.50.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.26. The firm had revenue of $22.08 billion during 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 business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. On average, sell-side analysts forecast that RTX Corporation will post 6.91 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.6%. This is an increase from RTX's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, May 22nd. RTX's payout ratio is currently 54.78%.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Analysts and market commentary highlighted RTX as a possible beneficiary of surging European defense spending, reinforcing the company’s role as a major aerospace and defense supplier. How to Invest in the Biggest European Defense Surge in Decades (RTX)
• Positive Sentiment: A separate defense-industry piece warned that the U.S. needs more munitions and that deliveries are years behind, which could support long-term demand for RTX’s defense and missile-related businesses. U.S. Military Expert Issues Grave Warning: ‘We Need More Munitions and Deliveries Are Years Behind.' What Stocks Can Benefit?
• Positive Sentiment: Technical and valuation-focused coverage suggested RTX has established a new price floor and may be undervalued, which can encourage buying interest. RTX (RTX) Stock Could Be 13.2% Undervalued After Revenue Hit US$90.4b
• Neutral Sentiment: Several articles referenced NVIDIA’s RTX branding, high-end GPUs, or consumer laptop pricing, but these appear unrelated to RTX Corporation’s defense/aerospace operations and are unlikely to materially affect the stock.
• Negative Sentiment: Recent trading-session coverage noted RTX shares slipped in the prior session, showing some near-term volatility despite the broader defense backdrop. RTX (RTX) Stock Declines While Market Improves: Some Information for Investors

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.

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.