Meeder Asset Management Inc. Increases Stock Position in RTX Co. (NYSE:RTX)

Meeder Asset Management Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 3,872.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,518 shares of the company's stock after acquiring an additional 28,775 shares during the period. Meeder Asset Management Inc.'s holdings in RTX were worth $3,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new position in RTX during the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

RTX stock traded down $0.45 during mid-day trading on Tuesday, reaching $118.94. The company's stock had a trading volume of 4,652,234 shares, compared to its average volume of 6,650,107. The firm's fifty day moving average price is $122.13 and its two-hundred day moving average price is $113.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a market capitalization of $158.31 billion, a P/E ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 for 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 firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Sell-side analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX's payout ratio is 72.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised RTX from a "sell" rating to a "hold" rating and upped their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. UBS Group boosted their price objective on RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $177.27.

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.