RTX Corporation $RTX Stock Acquired by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK increased its RTX stake by 12.5% in the third quarter, adding 42,930 shares to bring its holdings to 387,611 shares, valued at about $72 million.
• RTX reported quarterly EPS of $2.26, beating the $1.78 consensus, while revenue of $24.96 billion exceeded estimates and rose 11.1% year over year.
• RTX declared a quarterly dividend of $0.73 per share, equivalent to $2.92 annually and a 1.5% yield; analysts’ average rating was “Moderate Buy” with a $231.24 consensus price target.

AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 387,611 shares of the company's stock after acquiring an additional 42,930 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in RTX were worth $71,960,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RTX. BlackRock Inc. bought a new position in RTX during the second quarter worth $20,970,571,000. Bank of New York Mellon Corp bought a new position in shares of RTX during the 2nd quarter worth about $1,456,256,000. Legal & General Group Plc acquired a new stake in shares of RTX in the 2nd quarter valued at about $1,267,256,000. Deutsche Bank AG acquired a new stake in shares of RTX in the 2nd quarter valued at about $725,900,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in RTX in the 2nd quarter valued at about $636,932,000. 86.50% of the stock is owned by institutional investors.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total value of $3,057,627.60. Following the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 9,071 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the transaction, the executive vice president directly owned 16,930 shares of the company's stock, valued at $3,414,781. This represents a 34.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

RTX Price Performance

RTX opened at $196.35 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The company has a market capitalization of $264.96 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.21 and a beta of 0.30. The firm's fifty day moving average price is $193.15 and its two-hundred day moving average price is $195.52. RTX Corporation has a 1 year low of $166.74 and a 1 year high of $226.88.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The company had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. During the same quarter in the prior year, the company posted $1.70 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts anticipate that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX's payout ratio is 47.40%.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX is reportedly planning to increase Tomahawk and AMRAAM missile production as much as fourfold by 2030. If carried out, the expansion could help the company capture more defense demand, though the report describes a plan rather than completed production growth. Tomahawk and AMRAAM production report
• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 rocket for the U.S. Army’s Joint Reduced Range Rocket program. The test demonstrated the system’s capabilities and may strengthen Raytheon’s position as the Army evaluates a replacement for its training rocket; it does not itself confirm a contract award. Raytheon JR3 flight test announcement

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. BNP Paribas Exane boosted their price objective on RTX from $220.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Barclays increased their target price on RTX from $223.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. DA Davidson lifted their price target on shares of RTX from $192.00 to $219.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Susquehanna boosted their price target on shares of RTX from $235.00 to $245.00 and gave the company a "positive" rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of RTX from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $231.24.

RTX Company Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world.

Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.

RTX was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation.

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