First Trust Direct Indexing L.P. Has $3.85 Million Holdings in RTX Co. (NYSE:RTX)

First Trust Direct Indexing L.P. reduced its holdings in RTX Co. (NYSE:RTX - Free Report) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,741 shares of the company's stock after selling 4,391 shares during the quarter. First Trust Direct Indexing L.P.'s holdings in RTX were worth $3,846,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RTX shares. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna increased 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. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on RTX from $115.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Ten research 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $177.27.

RTX Stock Performance

RTX stock traded down $0.25 during trading hours on Wednesday, hitting $122.54. 889,607 shares of the stock were exchanged, compared to its average volume of 6,705,587. RTX Co. has a 12 month low of $78.00 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 capitalization of $163.10 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a 50-day simple moving average of $121.98 and a two-hundred day simple moving average of $111.75.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The business's revenue was up 6.0% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.06%. RTX's dividend payout ratio (DPR) is presently 98.82%.

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.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.