MetLife Investment Management LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

MetLife Investment Management LLC cut its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,894 shares of the company's stock after selling 8,734 shares during the period. MetLife Investment Management LLC's holdings in RTX were worth $41,909,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RTX. Napa Wealth Management bought a new stake in shares of RTX in the third quarter worth $1,307,000. Manning & Napier Advisors LLC purchased a new position in shares of RTX during the 2nd quarter worth $30,837,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company's stock worth $9,510,000 after purchasing an additional 11,354 shares during the period. Kennebec Savings Bank purchased a new position in RTX during the third quarter valued at $953,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company's stock valued at $44,250,000 after purchasing an additional 97,749 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.2 %

Shares of NYSE RTX traded down $0.27 during midday trading on Wednesday, hitting $120.34. The company's stock had a trading volume of 3,271,575 shares, compared to its average volume of 6,596,955. RTX Co. has a 12-month low of $79.57 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market cap of $160.17 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The business's 50 day moving average is $122.19 and its two-hundred day moving average is $114.36.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX's dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a "neutral" rating to a "buy" rating and upped their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Finally, Susquehanna increased their target price on RTX from $140.00 to $150.00 and gave the stock a "positive" rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.27.

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.