RTX Co. (NYSE:RTX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in RTX Co. (NYSE:RTX - Free Report) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,901,336 shares of the company's stock after buying an additional 114,283 shares during the quarter. Principal Financial Group Inc. owned 0.14% of RTX worth $230,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter valued at about $29,000. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock valued at $25,000 after buying an additional 100 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the 2nd quarter valued at $32,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter worth $41,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at $41,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Up 0.9 %

NYSE RTX traded up $1.02 during mid-day trading on Friday, hitting $116.48. The company's stock had a trading volume of 13,150,022 shares, compared to its average volume of 6,479,315. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 52-week low of $81.37 and a 52-week high of $128.70. The stock's fifty day simple moving average is $120.89 and its two-hundred day simple moving average is $115.70. The firm has a market capitalization of $155.04 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 15th. RTX's dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the stock a "positive" rating in a research report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "sell" rating to a "hold" rating and raised their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Finally, UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $177.93.

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.