PNC Financial Services Group Inc. Has $268.50 Million Stake in RTX Co. (NYSE:RTX)

PNC Financial Services Group Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,216,104 shares of the company's stock after selling 5,300 shares during the period. PNC Financial Services Group Inc. owned about 0.17% of RTX worth $268,503,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RTX. Manning & Napier Advisors LLC acquired a new position in RTX in the second quarter valued at approximately $30,837,000. Napa Wealth Management bought a new position in RTX during the 3rd quarter worth $1,307,000. Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $9,510,000 after buying an additional 11,354 shares during the period. Kennebec Savings Bank bought a new stake in RTX in the third quarter valued at $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 acquiring an additional 97,749 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX traded down $0.45 during mid-day trading on Tuesday, hitting $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 company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a 50-day moving average price of $122.16 and a 200 day moving average price of $113.68. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The stock has a market capitalization of $158.31 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.10 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. The company 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 revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX's dividend payout ratio (DPR) is 72.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a "sell" rating to a "hold" rating and increased their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $177.27.

RTX 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.