Oppenheimer Asset Management Inc. Boosts Holdings in RTX Co. (NYSE:RTX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,909 shares of the company's stock after acquiring an additional 66,591 shares during the period. RTX comprises about 1.1% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 12th largest position. Oppenheimer Asset Management Inc. owned approximately 0.05% of RTX worth $88,436,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in RTX during the 2nd quarter worth $30,837,000. O Shaughnessy Asset Management LLC increased its stake in shares of RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company's stock worth $17,134,000 after buying an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company's stock valued at $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of RTX in the third quarter valued at approximately $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of RTX by 36.5% in 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 acquiring an additional 97,749 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock traded up $0.38 during midday trading on Wednesday, reaching $123.75. 2,783,016 shares of the company's stock traded hands, compared to its average volume of 6,670,785. The company has a 50-day moving average price of $122.16 and a two-hundred day moving average price of $113.17. 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 52 week low of $78.00 and a 52 week high of $128.70. The firm has a market capitalization of $164.71 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $19.84 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company's revenue was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX's payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. TD Cowen upgraded RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. StockNews.com raised RTX from a "hold" rating to a "buy" rating in a research report on Friday, September 6th. Bank of America upgraded RTX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.