The Manufacturers Life Insurance Company Has $160.57 Million Stock Holdings in RTX Co. (NYSE:RTX)

The Manufacturers Life Insurance Company trimmed its position in RTX Co. (NYSE:RTX - Free Report) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,325,298 shares of the company's stock after selling 43,494 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of RTX worth $160,573,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RTX. Tidal Investments LLC raised its position in shares of RTX by 58.9% during the first quarter. Tidal Investments LLC now owns 40,425 shares of the company's stock worth $3,943,000 after purchasing an additional 14,991 shares during the period. iA Global Asset Management Inc. lifted its stake in RTX by 3.9% in the first quarter. iA Global Asset Management Inc. now owns 10,997 shares of the company's stock valued at $1,073,000 after buying an additional 414 shares in the last quarter. Strategic Wealth Partners Ltd. increased its position in shares of RTX by 10.8% during the first quarter. Strategic Wealth Partners Ltd. now owns 86,450 shares of the company's stock worth $8,431,000 after acquiring an additional 8,416 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of RTX during the first quarter worth $6,574,000. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in RTX by 2.8% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 119,346 shares of the company's stock worth $11,640,000 after purchasing an additional 3,306 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of NYSE:RTX traded down $0.27 during trading on Wednesday, reaching $120.34. 3,271,575 shares of the company traded hands, compared to its average volume of 6,596,955. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $160.17 billion, a PE ratio of 34.48, a PEG ratio of 2.10 and a beta of 0.82. The company's 50 day moving average is $122.19 and its two-hundred day moving average is $114.36. RTX Co. has a 52 week low of $79.57 and a 52 week high of $128.70.

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, topping analysts' consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts' expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX's payout ratio is 72.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RTX shares. Deutsche Bank Aktiengesellschaft raised RTX from a "sell" rating to a "hold" rating and upped their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. TD Cowen upgraded shares of RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. Bank of America upgraded RTX from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised RTX from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.