KBC Group NV Buys 5,374 Shares of RTX Co. (NYSE:RTX)

KBC Group NV raised its stake in RTX Co. (NYSE:RTX - Free Report) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 105,297 shares of the company's stock after buying an additional 5,374 shares during the quarter. KBC Group NV's holdings in RTX were worth $12,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company's stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors raised its stake in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company's stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company's stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc increased its stake in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company's stock valued at $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company's stock worth $831,740,000 after buying an additional 408,551 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RTX. Alembic Global Advisors upgraded RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a "positive" rating in a research note on Wednesday, October 23rd. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Finally, Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $177.27.

RTX Price Performance

RTX stock traded up $0.24 during midday trading on Friday, reaching $118.53. The company had a trading volume of 6,970,495 shares, compared to its average volume of 5,258,494. The stock has a 50 day moving average price of $122.20 and a 200-day moving average price of $113.47. The company has a market capitalization of $157.77 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. Equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio (DPR) is currently 72.00%.

About RTX

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.